Infosys (NYSE:INFY) Reaches New 1-Year Low – Here’s What Happened

Shares of Infosys Ltd. (NYSE:INFY) hit a new 52-week low during trading on Tuesday . The company traded as low as $12.02 and last traded at $12.0750, with a volume of 599749 shares traded. The stock had previously closed at $12.30.

Wall Street Analyst Weigh In

INFY has been the topic of a number of research reports. Susquehanna lowered their price objective on Infosys from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Stifel Nicolaus set a $15.00 price target on shares of Infosys in a research note on Thursday, April 23rd. Jefferies Financial Group lowered 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. BMO Capital Markets dropped their price objective on shares of Infosys from $20.00 to $15.00 and set a “market perform” rating for the company in a research note on Friday, April 24th. Finally, TD Cowen reduced their price objective on shares of Infosys from $16.00 to $15.00 and set a “hold” rating for the company in a report on Monday, April 6th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Infosys has an average rating of “Reduce” and an average price target of $14.22.

Infosys Stock Performance

The firm has a market cap of $47.17 billion, a P/E ratio of 14.57, a P/E/G ratio of 1.57 and a beta of 0.89. The company has a 50-day moving average of $13.37 and a 200 day moving average of $15.85.

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

Hedge Funds Weigh In On Infosys

Institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in Infosys during the first quarter worth about $97,000. State of Wyoming bought a new position in shares of Infosys in the first quarter valued at approximately $134,000. Aureus Asset Management LLC acquired a new position in shares of Infosys in the 1st quarter worth approximately $142,000. Able Wealth Management LLC acquired a new position in shares of Infosys in the 1st quarter worth approximately $163,000. Finally, Dickmeyer Boyce Financial Management Inc. bought a new stake in Infosys during the 1st quarter worth approximately $173,000. 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.