Infosys (NYSE:INFY) Sets New 12-Month Low – What’s Next?

Shares of Infosys Ltd. (NYSE:INFY) reached a new 52-week low during trading on Wednesday . The stock traded as low as $12.16 and last traded at $12.4650, with a volume of 10422327 shares trading hands. The stock had previously closed at $12.24.

Analyst Ratings Changes

INFY has been the topic of a number of recent analyst reports. BMO Capital Markets lowered their price target on shares of Infosys from $20.00 to $15.00 and set a “market perform” rating on the stock 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 report on Monday, April 6th. Susquehanna lowered their price target on shares of Infosys from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Stifel Nicolaus set a $15.00 price target on shares of Infosys in a report on Thursday, April 23rd. Finally, Jefferies Financial Group downgraded shares of Infosys from a “buy” rating to a “hold” rating and set a $14.31 price target on the stock. in a report on Monday, February 23rd. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Infosys currently has an average rating of “Reduce” and an average price target of $14.22.

Infosys Price Performance

The stock’s fifty day moving average is $13.59 and its 200-day moving average is $16.05. The stock has a market capitalization of $50.45 billion, a PE ratio of 15.58, a P/E/G ratio of 1.59 and a beta of 0.89.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Wednesday, April 1st. The technology company reported $0.23 earnings per share (EPS) for the quarter. The firm had revenue of $5.04 billion for the quarter. Infosys had a net margin of 16.44% and a return on equity of 32.64%. On average, analysts forecast that Infosys Ltd. will post 0.83 EPS for the current year.

Hedge Funds Weigh In On Infosys

A number of large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in Infosys by 3.9% during the first quarter. Bank of New York Mellon Corp now owns 697,669 shares of the technology company’s stock worth $9,426,000 after acquiring an additional 26,137 shares during the period. Geneos Wealth Management Inc. raised its position in Infosys by 46.3% during the first quarter. Geneos Wealth Management Inc. now owns 77,173 shares of the technology company’s stock worth $1,043,000 after acquiring an additional 24,422 shares during the period. Advisors Preferred LLC acquired a new position in Infosys during the first quarter worth $296,000. Sanctuary Advisors LLC raised its position in Infosys by 44.7% during the first quarter. Sanctuary Advisors LLC now owns 52,213 shares of the technology company’s stock worth $705,000 after acquiring an additional 16,133 shares during the period. Finally, Hudson Edge Investment Partners Inc. raised its position in Infosys by 56.5% during the first quarter. Hudson Edge Investment Partners Inc. now owns 4,452,990 shares of the technology company’s stock worth $60,160,000 after acquiring an additional 1,607,300 shares during the period. 16.20% of the stock is currently 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.