Infosys (NYSE:INFY) Reaches New 12-Month Low – Here’s Why

Infosys Ltd. (NYSE:INFY) shares reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $10.15 and last traded at $10.3220, with a volume of 8042659 shares. The stock had previously closed at $10.55.

Wall Street Analysts Forecast Growth

INFY has been the subject of a number of research reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $10.90 target price (down from $12.70) on shares of Infosys in a report on Friday, July 24th. HSBC set a $11.47 price target on shares of Infosys and gave the stock a “hold” rating in a research note on Friday, July 24th. Weiss Ratings lowered Infosys from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Infosys in a report on Monday, August 31st. Finally, CLSA downgraded Infosys from an “outperform” rating to a “hold” rating in a research report on Wednesday, August 19th. Ten analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $11.45.

Infosys Trading Down 2.5%

The company has a market cap of $41.64 billion, a P/E ratio of 12.71, a PEG ratio of 2.46 and a beta of 0.88. The business’s 50 day simple moving average is $11.56 and its 200 day simple moving average is $12.04.

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

Institutional Investors Weigh In On Infosys

A number of institutional investors have recently bought and sold shares of the business. Confluence Investment Management LLC lifted its position in shares of Infosys by 5.5% in the third quarter. Confluence Investment Management LLC now owns 18,601 shares of the technology company’s stock valued at $200,000 after acquiring an additional 965 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Infosys by 4.5% in the 2nd quarter. QRG Capital Management Inc. now owns 30,832 shares of the technology company’s stock worth $323,000 after purchasing an additional 1,335 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Infosys by 32.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 109,291 shares of the technology company’s stock worth $1,146,000 after purchasing an additional 26,984 shares during the period. Tidal Investments LLC grew its holdings in Infosys by 106.3% during the 2nd quarter. Tidal Investments LLC now owns 125,298 shares of the technology company’s stock valued at $1,314,000 after buying an additional 64,563 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of Infosys during the second quarter valued at approximately $1,907,000. Hedge funds and other 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.