Infosys (NYSE:INFY) Stock Price Passes Below Fifty Day Moving Average – Time to Sell?

Infosys Ltd. (NYSE:INFY)’s share price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $13.05 and traded as low as $12.23. Infosys shares last traded at $12.7050, with a volume of 33,405,587 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on INFY. TD Cowen decreased their price objective on Infosys from $16.00 to $15.00 and set a “hold” rating for the company in a report on Monday, April 6th. BMO Capital Markets cut their target price on Infosys from $20.00 to $15.00 and set a “market perform” rating on the stock in a research note on Friday, April 24th. Susquehanna reduced their price target on Infosys from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Stifel Nicolaus set a $15.00 price objective on shares of Infosys in a report on Thursday, April 23rd. Finally, Jefferies Financial Group lowered shares of Infosys from a “buy” rating to a “hold” rating and set a $14.31 price objective on the stock. in a research report on Monday, February 23rd. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Infosys currently has a consensus rating of “Reduce” and an average price target of $14.22.

Infosys Price Performance

The firm has a 50-day moving average of $13.05 and a 200 day moving average of $15.53. The stock has a market capitalization of $51.42 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 1.61 and a beta of 0.89.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Infosys by 6.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,155 shares of the technology company’s stock valued at $1,153,000 after purchasing an additional 3,804 shares during the last quarter. NewEdge Advisors LLC increased its position in Infosys by 79.9% during the first quarter. NewEdge Advisors LLC now owns 54,978 shares of the technology company’s stock worth $1,003,000 after buying an additional 24,426 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Infosys in the first quarter valued at approximately $239,000. Trinity Street Asset Management LLP lifted its position in shares of Infosys by 45.5% in the first quarter. Trinity Street Asset Management LLP now owns 14,938,546 shares of the technology company’s stock valued at $201,820,000 after buying an additional 4,674,742 shares during the last quarter. Finally, Deltec Asset Management LLC boosted its stake in shares of Infosys by 13.6% during the 1st quarter. Deltec Asset Management LLC now owns 58,500 shares of the technology company’s stock worth $790,000 after acquiring an additional 7,000 shares during the period. Institutional investors 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.