Infosys (NYSE:INFY) Hits New 1-Year Low – Should You Sell?
by Teresa Graham · The Cerbat GemInfosys Ltd. (NYSE:INFY – Get Free Report) shares reached a new 52-week low on Wednesday . The company traded as low as $12.16 and last traded at $12.4650, with a volume of 10422327 shares traded. The stock had previously closed at $12.24.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. Stifel Nicolaus set a $15.00 target price on shares of Infosys in a research note on Thursday, April 23rd. Jefferies Financial Group downgraded Infosys from a “buy” rating to a “hold” rating and set a $14.31 price objective on the stock. in a research report on Monday, February 23rd. BMO Capital Markets dropped their target price on Infosys from $20.00 to $15.00 and set a “market perform” rating for the company in a report on Friday, April 24th. TD Cowen lowered their price target on shares of Infosys from $16.00 to $15.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Finally, Susquehanna cut their price objective on shares of Infosys from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Infosys has a consensus rating of “Reduce” and a consensus target price of $14.22.
View Our Latest Report on Infosys
Infosys Stock Up 1.0%
The stock has a 50-day simple moving average of $13.54 and a 200 day simple moving average of $16.00. The company has a market cap of $51.38 billion, a PE ratio of 15.87, a P/E/G ratio of 1.64 and a beta of 0.89.
Infosys (NYSE:INFY – Get Free Report) last issued its quarterly earnings data on Wednesday, April 1st. The technology company reported $0.23 earnings per share (EPS) for the quarter. Infosys had a net margin of 16.44% and a return on equity of 32.64%. The firm had revenue of $5.04 billion for the quarter. As a group, research analysts anticipate that Infosys Ltd. will post 0.83 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Infosys
A number of institutional investors have recently modified their holdings of INFY. Trinity Street Asset Management LLP lifted its stake in Infosys by 45.5% during the 1st quarter. Trinity Street Asset Management LLP now owns 14,938,546 shares of the technology company’s stock worth $201,820,000 after acquiring an additional 4,674,742 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Infosys by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 7,789,344 shares of the technology company’s stock valued at $105,206,000 after purchasing an additional 52,393 shares during the period. Hudson Edge Investment Partners Inc. boosted its stake in shares of Infosys by 56.5% in the first quarter. Hudson Edge Investment Partners Inc. now owns 4,452,990 shares of the technology company’s stock valued at $60,160,000 after purchasing an additional 1,607,300 shares during the period. Bessemer Group Inc. grew its holdings in shares of Infosys by 49.3% in the first quarter. Bessemer Group Inc. now owns 1,720,708 shares of the technology company’s stock valued at $23,248,000 after purchasing an additional 568,573 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Infosys by 3.9% during the 1st quarter. Bank of New York Mellon Corp now owns 697,669 shares of the technology company’s stock worth $9,426,000 after buying an additional 26,137 shares during the period. 16.20% of the stock is owned by institutional investors and hedge funds.
Infosys Company Profile
Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.