Infosys (NYSE:INFY) Stock Price Passes Above 50 Day Moving Average – Should You Sell?

Infosys Ltd. (NYSE:INFY) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $11.52 and traded as high as $11.84. Infosys shares last traded at $11.67, with a volume of 6,727,872 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on INFY shares. Susquehanna dropped their price target on Infosys from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, July 24th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $10.90 target price (down from $12.70) on shares of Infosys in a research report on Friday, July 24th. CLSA cut shares of Infosys from an “outperform” rating to a “hold” rating in a report on Wednesday, August 19th. BMO Capital Markets reiterated a “market perform” rating and set a $12.00 price objective (down from $13.00) on shares of Infosys in a report on Friday, July 24th. Finally, Weiss Ratings cut shares of Infosys from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Nine analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $11.63.

Infosys Stock Up 1.6%

The business has a 50-day moving average price of $11.55 and a two-hundred day moving average price of $12.69. The company has a market capitalization of $48.96 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 2.72 and a beta of 0.88.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). Infosys had a net margin of 16.38% and a return on equity of 33.91%. The business had revenue of $4.99 billion during the quarter, compared to analyst estimates of $5.08 billion. On average, sell-side analysts anticipate that Infosys Ltd. will post 0.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Infosys

Institutional investors and hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new position in Infosys in the 1st quarter valued at about $97,000. TD Waterhouse Canada Inc. increased its holdings in Infosys by 14.2% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 9,090 shares of the technology company’s stock worth $97,000 after purchasing an additional 1,131 shares in the last quarter. State of Wyoming purchased a new stake in shares of Infosys in the first quarter worth approximately $134,000. Aureus Asset Management LLC purchased a new stake in shares of Infosys in the first quarter worth approximately $142,000. Finally, Concurrent Investment Advisors LLC bought a new position in shares of Infosys in the second quarter valued at approximately $115,000. Institutional investors and hedge funds own 16.20% of the company’s stock.

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.