Infosys Ltd. (NYSE:INFY – Get Free Report)’s share price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $13.05 and traded as low as $12.23. Infosys shares last traded at $12.7050, with a volume of 33,405,587 shares trading hands.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on INFY. Susquehanna dropped their price target on Infosys from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Jefferies Financial Group lowered Infosys from a “buy” rating to a “hold” rating and set a $14.31 price target for the company. in a research note on Monday, February 23rd. Stifel Nicolaus set a $15.00 price target on Infosys in a research note on Thursday, April 23rd. TD Cowen lowered their price objective on Infosys from $16.00 to $15.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Finally, BMO Capital Markets lowered their price objective on Infosys from $20.00 to $15.00 and set a “market perform” rating for the company in a research note on Friday, April 24th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $14.22.
View Our Latest Report on INFY
Infosys Trading Down 0.2%
Infosys (NYSE:INFY – Get Free Report) last issued its quarterly earnings results on Wednesday, April 1st. The technology company reported $0.23 earnings per share (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 during the quarter. Research analysts anticipate that Infosys Ltd. will post 0.83 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of INFY. Lazard Asset Management LLC boosted its position in shares of Infosys by 17.0% in the 1st quarter. Lazard Asset Management LLC now owns 26,776,494 shares of the technology company’s stock worth $361,750,000 after purchasing an additional 3,893,801 shares in the last quarter. Trinity Street Asset Management LLP boosted its position in shares of Infosys by 45.5% in the 1st quarter. Trinity Street Asset Management LLP now owns 14,938,546 shares of the technology company’s stock worth $201,820,000 after purchasing an additional 4,674,742 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Infosys by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,789,344 shares of the technology company’s stock worth $105,206,000 after purchasing an additional 52,393 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Infosys by 7.4% in the 1st quarter. Bank of America Corp DE now owns 6,790,666 shares of the technology company’s stock worth $91,742,000 after purchasing an additional 469,843 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Infosys by 8.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,490,358 shares of the technology company’s stock worth $87,685,000 after purchasing an additional 521,169 shares in the last quarter. 16.20% of the stock is currently owned by hedge funds and other institutional investors.
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.
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