Infosys (NYSE:INFY) Hits New 52-Week Low – Time to Sell?

Shares of Infosys Limited (NYSE:INFY) hit a new 52-week low on Thursday . The stock traded as low as $15.82 and last traded at $16.10, with a volume of 4725399 shares trading hands. The stock had previously closed at $16.58.

Wall Street Analyst Weigh In

INFY has been the topic of several recent analyst reports. CLSA upgraded shares of Infosys from a “hold” rating to an “outperform” rating in a report on Friday, March 7th. Guggenheim reissued a “neutral” rating on shares of Infosys in a research note on Friday, January 17th. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a report on Tuesday. Stifel Nicolaus lowered their target price on Infosys from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Tuesday. Finally, Susquehanna upgraded Infosys from a “negative” rating to a “neutral” rating and set a $17.00 price objective for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Infosys has an average rating of “Hold” and an average target price of $20.03.

Infosys Trading Down 1.9 %

The stock has a market capitalization of $67.34 billion, a PE ratio of 20.55, a P/E/G ratio of 3.50 and a beta of 0.97. The stock has a 50 day moving average price of $19.09 and a 200-day moving average price of $21.19.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, April 17th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. Infosys had a return on equity of 31.60% and a net margin of 17.28%. During the same period in the previous year, the business earned $0.23 EPS. Research analysts forecast that Infosys Limited will post 0.74 earnings per share for the current year.

Institutional Trading of Infosys

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INFY. AQR Capital Management LLC increased its holdings in Infosys by 270.9% in the 4th quarter. AQR Capital Management LLC now owns 9,164,085 shares of the technology company’s stock worth $200,877,000 after acquiring an additional 6,693,127 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Infosys by 118.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,912,259 shares of the technology company’s stock valued at $173,437,000 after buying an additional 4,296,291 shares in the last quarter. First Trust Advisors LP boosted its holdings in Infosys by 14.5% in the 4th quarter. First Trust Advisors LP now owns 32,410,108 shares of the technology company’s stock worth $710,430,000 after buying an additional 4,108,903 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Infosys by 1,668.3% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,228,211 shares of the technology company’s stock valued at $75,470,000 after acquiring an additional 3,045,656 shares during the period. Finally, Bank of America Corp DE raised its holdings in Infosys by 43.1% during the fourth quarter. Bank of America Corp DE now owns 8,225,396 shares of the technology company’s stock valued at $180,301,000 after acquiring an additional 2,478,093 shares during the period. 16.20% of the stock is 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.