Infosys (NYSE:INFY) Hits New 1-Year Low – Should You Sell?

Infosys Ltd. (NYSE:INFY) shares reached a new 52-week low on Thursday. The company traded as low as $10.15 and last traded at $10.3220, with a volume of 8,042,659 shares changing hands. The stock had previously closed at $10.55.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group reissued a “neutral” rating and issued a $10.40 price objective on shares of Infosys in a research report on Thursday, October 1st. Weiss Ratings lowered shares of Infosys from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Stifel Nicolaus set a $13.00 price target on shares of Infosys and gave the company a “hold” rating in a report on Thursday, July 16th. BMO Capital Markets reissued a “market perform” rating and set a $12.00 target price (down from $13.00) on shares of Infosys in a report on Friday, July 24th. Finally, TD Cowen reaffirmed a “hold” rating and set a $9.00 target price (down from $10.00) on shares of Infosys in a research report on Friday, July 24th. Ten investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $11.45.

Infosys Stock Performance

The stock has a market capitalization of $43.49 billion, a P/E ratio of 13.26, a PEG ratio of 2.49 and a beta of 0.88. The business has a fifty day simple moving average of $11.51 and a 200-day simple moving average of $12.01.

Infosys (NYSE:INFY) last released its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). The company had revenue of $4.99 billion for 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%. On average, sell-side analysts anticipate that Infosys Ltd. will post 0.81 earnings per share for the current year.

Hedge Funds Weigh In On Infosys

Hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC raised its position in shares of Infosys by 35.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 20,655 shares of the technology company’s stock valued at $222,000 after buying an additional 5,408 shares in the last quarter. Confluence Investment Management LLC boosted its position in Infosys by 5.5% during the 3rd quarter. Confluence Investment Management LLC now owns 18,601 shares of the technology company’s stock valued at $200,000 after buying an additional 965 shares during the period. QRG Capital Management Inc. increased its position in shares of Infosys by 4.5% in the second quarter. QRG Capital Management Inc. now owns 30,832 shares of the technology company’s stock valued at $323,000 after acquiring an additional 1,335 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Infosys by 32.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 109,291 shares of the technology company’s stock valued at $1,146,000 after purchasing an additional 26,984 shares during the period. Finally, Tidal Investments LLC increased its stake in shares of Infosys by 106.3% during the second 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 during the period. 16.20% of the stock is currently owned by hedge funds and other 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.