Infosys (NYSE:INFY) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

Infosys Ltd. (NYSE:INFY)’s stock price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-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.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. BMO Capital Markets cut their price objective 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. Susquehanna dropped their target price on shares of Infosys from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. TD Cowen cut their price target on Infosys from $16.00 to $15.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Jefferies Financial Group lowered Infosys from a “buy” rating to a “hold” rating and set a $14.31 price target on the stock. in a research report on Monday, February 23rd. Finally, Stifel Nicolaus set a $15.00 price objective on Infosys in a report on Thursday, April 23rd. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Infosys currently has an average rating of “Reduce” and a consensus target price of $14.22.

Infosys Price Performance

The stock has a market cap of $51.42 billion, a P/E ratio of 15.88, a P/E/G ratio of 1.61 and a beta of 0.89. The company’s 50 day simple moving average is $13.05 and its 200 day simple moving average is $15.53.

Infosys (NYSE:INFY) last released its quarterly earnings data on Wednesday, April 1st. The technology company reported $0.23 EPS for the quarter. The business had revenue of $5.04 billion during the quarter. Infosys had a net margin of 16.44% and a return on equity of 32.64%. On average, equities research analysts predict that Infosys Ltd. will post 0.83 earnings per share for the current year.

Institutional Trading of Infosys

Several hedge funds have recently bought and sold shares of INFY. V Square Quantitative Management LLC acquired a new position in shares of Infosys in the first quarter valued at approximately $97,000. State of Wyoming acquired a new stake in shares of Infosys during the first quarter worth $134,000. Aureus Asset Management LLC acquired a new stake in shares of Infosys during the first quarter worth $142,000. Able Wealth Management LLC bought a new stake in Infosys in the 1st quarter valued at $163,000. Finally, Dickmeyer Boyce Financial Management Inc. acquired a new position in Infosys in the 1st quarter worth $173,000. 16.20% of the stock is currently owned by institutional investors and hedge funds.

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.