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

Infosys Ltd. (NYSE:INFY) reached a new 52-week low during trading on Tuesday . The company traded as low as $10.39 and last traded at $10.4450, with a volume of 911414 shares traded. The stock had previously closed at $10.70.

Analyst Upgrades and Downgrades

Several analysts recently commented on INFY shares. TD Cowen cut their target price on shares of Infosys from $16.00 to $15.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Susquehanna decreased their price target on shares of Infosys from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Wells Fargo & Company set a $11.00 price target on Infosys and gave the company an “equal weight” rating in a report on Friday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Infosys in a research report on Monday, June 8th. Finally, BMO Capital Markets reduced their price objective on Infosys from $20.00 to $15.00 and set a “market perform” rating for the company in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.63.

Infosys Stock Down 2.8%

The firm has a market capitalization of $42.11 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.40 and a beta of 0.89. The business’s 50-day moving average price is $12.25 and its 200-day moving average price is $14.65.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Wednesday, April 1st. The technology company reported $0.23 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 anticipate that Infosys Ltd. will post 0.83 EPS for the current fiscal year.

Institutional Trading of Infosys

Several hedge funds and other institutional investors have recently modified their holdings of INFY. Boston Common Asset Management LLC grew its stake in Infosys by 1.1% in the first quarter. Boston Common Asset Management LLC now owns 208,639 shares of the technology company’s stock valued at $2,819,000 after purchasing an additional 2,300 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Infosys by 46.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 77,173 shares of the technology company’s stock valued at $1,043,000 after buying an additional 24,422 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Infosys by 49.3% during the 1st quarter. Bessemer Group Inc. now owns 1,720,708 shares of the technology company’s stock valued at $23,248,000 after buying an additional 568,573 shares during the last quarter. Laidlaw Wealth Management LLC grew its stake in shares of Infosys by 30.8% in the 1st quarter. Laidlaw Wealth Management LLC now owns 14,650 shares of the technology company’s stock valued at $198,000 after buying an additional 3,450 shares in the last quarter. Finally, Advisors Preferred LLC bought a new stake in shares of Infosys in the 1st quarter valued at approximately $296,000. 16.20% of the stock is currently owned by hedge funds and other 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.