Infosys (NYSE:INFY) Stock Price Breaks Above 200 Day Moving Average – Here’s What Happened

Infosys Ltd. (NYSE:INFY) shares crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $12.77 and traded as high as $12.85. Infosys shares last traded at $12.8350, with a volume of 27,400,695 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on INFY shares. HSBC set a $11.47 price objective on Infosys and gave the company a “hold” rating in a research note on Friday, July 24th. Jefferies Financial Group restated a “hold” rating and issued a $14.31 target price (down from $20.82) on shares of Infosys in a report on Monday, August 31st. CLSA downgraded Infosys from an “outperform” rating to a “hold” rating in a report on Wednesday, August 19th. Stifel Nicolaus set a $13.00 price target on shares of Infosys and gave the company a “hold” rating in a research report on Thursday, July 16th. Finally, JPMorgan Chase & Co. cut shares of Infosys from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $12.70 to $10.90 in a research note on Friday, July 24th. Ten 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, the company presently has an average rating of “Reduce” and a consensus target price of $11.79.

Infosys Stock Up 4.9%

The company has a market capitalization of $51.98 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 3.05 and a beta of 0.87. The company has a 50-day moving average price of $11.54 and a 200-day moving average price of $12.77.

Infosys (NYSE:INFY) last posted its quarterly earnings data on Friday, October 23rd. The technology company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Infosys had a return on equity of 34.81% and a net margin of 16.21%. The business had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.12 billion. Equities analysts expect that Infosys Ltd. will post 0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in INFY. Nisa Investment Advisors LLC increased its stake in Infosys by 87.1% during the third quarter. Nisa Investment Advisors LLC now owns 3,683 shares of the technology company’s stock valued at $40,000 after acquiring an additional 1,715 shares during the period. V Square Quantitative Management LLC acquired a new position in Infosys in the 1st quarter valued at approximately $97,000. TD Waterhouse Canada Inc. raised its stake in shares of Infosys by 14.2% in the second quarter. TD Waterhouse Canada Inc. now owns 9,090 shares of the technology company’s stock valued at $97,000 after purchasing an additional 1,131 shares in the last quarter. State of Wyoming acquired a new stake in shares of Infosys during the 1st quarter valued at about $134,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Infosys in the 3rd quarter worth approximately $110,000. 16.20% of the stock is owned by institutional investors.

About Infosys

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.