Infosys (NYSE:INFY) Hits New 12-Month Low – Here’s What Happened

Infosys Ltd. (NYSE:INFY) reached a new 52-week low on Thursday . The stock traded as low as $11.10 and last traded at $10.7210, with a volume of 1840930 shares traded. The stock had previously closed at $11.70.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. BMO Capital Markets reduced their target price on Infosys from $20.00 to $15.00 and set a “market perform” rating on the stock in a research report on Friday, April 24th. Jefferies Financial Group lowered Infosys from a “buy” rating to a “hold” rating and set a $14.31 price objective for the company. in a research report on Monday, February 23rd. Susquehanna dropped their price objective on Infosys from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Infosys in a research note on Monday, June 8th. Finally, TD Cowen dropped their price objective on Infosys from $16.00 to $15.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Six research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $14.22.

Infosys Stock Down 8.2%

The company has a market capitalization of $43.49 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.56 and a beta of 0.89. The business has a 50-day moving average price of $12.76 and a 200-day moving average price of $15.05.

Infosys (NYSE:INFY) last issued its earnings results on Wednesday, April 1st. The technology company reported $0.23 EPS 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. As a group, sell-side analysts predict that Infosys Ltd. will post 0.83 EPS for the current year.

Institutional Trading of Infosys

Institutional investors and hedge funds have recently made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new stake in shares of Infosys in the first quarter worth about $97,000. State of Wyoming acquired a new stake in shares of Infosys in the first quarter worth about $134,000. Aureus Asset Management LLC acquired a new stake in shares of Infosys in the first quarter worth about $142,000. Able Wealth Management LLC acquired a new stake in shares of Infosys in the first quarter worth about $163,000. Finally, Dickmeyer Boyce Financial Management Inc. acquired a new position in shares of Infosys during the 1st quarter worth about $173,000. 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.