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

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on INFY. Weiss Ratings reissued a “hold (c-)” rating on shares of Infosys in a report on Monday, June 8th. JPMorgan Chase & Co. lowered their target price on Infosys from $16.80 to $12.70 and set an “overweight” rating for the company in a report on Wednesday, June 24th. Wells Fargo & Company set a $11.00 price target on Infosys and gave the stock an “equal weight” rating in a research report on Friday. TD Cowen dropped their price target on Infosys from $16.00 to $15.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Finally, Susquehanna cut their price target on Infosys from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $13.63.

Infosys Stock Performance

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

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of INFY. Trinity Street Asset Management LLP grew its holdings in Infosys by 45.5% during the first quarter. Trinity Street Asset Management LLP now owns 14,938,546 shares of the technology company’s stock worth $201,820,000 after acquiring an additional 4,674,742 shares during the period. Lazard Asset Management LLC lifted its holdings in Infosys by 17.0% in the 1st quarter. Lazard Asset Management LLC now owns 26,776,494 shares of the technology company’s stock valued at $361,750,000 after acquiring an additional 3,893,801 shares during the last quarter. Hudson Edge Investment Partners Inc. lifted its holdings in Infosys by 56.5% in the 1st quarter. Hudson Edge Investment Partners Inc. now owns 4,452,990 shares of the technology company’s stock valued at $60,160,000 after acquiring an additional 1,607,300 shares during the last quarter. Weiss Asset Management LP bought a new position in shares of Infosys during the 1st quarter valued at about $10,708,000. Finally, Bessemer Group Inc. boosted its position 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 purchasing an additional 568,573 shares in the last quarter. Institutional investors own 16.20% of the company’s stock.

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.