Infosys (NYSE:INFY) Shares Gap Down to $16.95

Infosys Limited (NYSE:INFY) gapped down before the market opened on Thursday . The stock had previously closed at $16.95, but opened at $16.26. Infosys shares last traded at $16.47, with a volume of 4,386,091 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $22.00 price target on shares of Infosys in a report on Wednesday, March 13th. StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Guggenheim assumed coverage on shares of Infosys in a report on Tuesday, March 19th. They set a “neutral” rating and a $20.00 price objective on the stock. Susquehanna decreased their price objective on shares of Infosys from $15.00 to $14.00 and set a “negative” rating on the stock in a report on Friday. Finally, BMO Capital Markets decreased their price objective on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.27.

Infosys Stock Up 1.8 %

The stock’s 50-day moving average price is $18.80 and its 200 day moving average price is $18.34. The firm has a market capitalization of $69.58 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 2.24 and a beta of 0.93.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, April 18th. The technology company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Infosys had a net margin of 15.91% and a return on equity of 31.25%. During the same period in the prior year, the business earned $0.18 earnings per share. On average, sell-side analysts anticipate that Infosys Limited will post 0.7 earnings per share for the current year.

Institutional Investors Weigh In On Infosys

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Buckingham Capital Management Inc. increased its position in Infosys by 0.6% during the fourth quarter. Buckingham Capital Management Inc. now owns 87,324 shares of the technology company’s stock worth $1,605,000 after purchasing an additional 499 shares during the last quarter. HB Wealth Management LLC increased its position in Infosys by 5.7% during the fourth quarter. HB Wealth Management LLC now owns 10,661 shares of the technology company’s stock worth $196,000 after purchasing an additional 575 shares during the last quarter. GAMMA Investing LLC increased its position in Infosys by 33.0% during the first quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock worth $43,000 after purchasing an additional 593 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Infosys by 7.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 8,840 shares of the technology company’s stock worth $142,000 after purchasing an additional 610 shares during the last quarter. Finally, Marshall Financial Group LLC increased its position in Infosys by 1.2% during the fourth quarter. Marshall Financial Group LLC now owns 52,478 shares of the technology company’s stock worth $965,000 after purchasing an additional 622 shares during the last quarter. 10.89% of the stock is currently owned by institutional investors and hedge funds.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.