Infosys (NYSE:INFY) Reaches New 52-Week Low – Here’s Why

Infosys Ltd. (NYSE:INFY)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $11.50 and last traded at $11.7720, with a volume of 468282 shares changing hands. The stock had previously closed at $11.76.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on INFY. Weiss Ratings reissued a “hold (c-)” rating on shares of Infosys in a report on Monday. BMO Capital Markets lowered their price target on shares of Infosys from $20.00 to $15.00 and set a “market perform” rating on the stock in a report on Friday, April 24th. Stifel Nicolaus set a $15.00 price target on shares of Infosys in a research report on Thursday, April 23rd. TD Cowen decreased their price objective on Infosys from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Monday, April 6th. Finally, Jefferies Financial Group lowered Infosys from a “buy” rating to a “hold” rating and set a $14.31 price objective on the stock. in a research note on Monday, February 23rd. Six 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, the stock presently has a consensus rating of “Reduce” and a consensus price target of $14.22.

Infosys Stock Up 1.1%

The stock has a fifty day simple moving average of $12.88 and a 200-day simple moving average of $15.18. The company has a market capitalization of $47.45 billion, a P/E ratio of 14.66, a PEG ratio of 1.51 and a beta of 0.89.

Infosys (NYSE:INFY) last posted its earnings results on Wednesday, April 1st. The technology company reported $0.23 earnings per share 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. Analysts predict that Infosys Ltd. will post 0.83 earnings per share for the current fiscal year.

Institutional Trading of Infosys

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