Infosys (NYSE:INFY) Shares Gap Down – Here’s Why

Shares of Infosys Limited (NYSE:INFY) gapped down before the market opened on Wednesday . The stock had previously closed at $18.97, but opened at $18.49. Infosys shares last traded at $18.53, with a volume of 2,010,336 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a research report on Monday. Guggenheim reiterated a “neutral” rating on shares of Infosys in a research report on Friday, January 17th. CLSA upgraded Infosys from a “hold” rating to an “outperform” rating in a research report on Friday, March 7th. HSBC upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Finally, Hsbc Global Res upgraded Infosys from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.78.

Infosys Trading Down 1.3 %

The company has a 50 day moving average price of $21.33 and a 200-day moving average price of $22.10. The company has a market cap of $75.66 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 3.50 and a beta of 1.01.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, January 16th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. Infosys had a return on equity of 31.60% and a net margin of 17.28%. During the same period last year, the business posted $0.18 EPS. Equities analysts expect that Infosys Limited will post 0.74 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Sierra Ocean LLC bought a new position in shares of Infosys in the 4th quarter valued at $29,000. Brooklyn Investment Group bought a new position in shares of Infosys in the 4th quarter valued at $52,000. Wilmington Savings Fund Society FSB bought a new position in shares of Infosys in the 3rd quarter valued at $57,000. Farther Finance Advisors LLC lifted its stake in shares of Infosys by 69.7% in the 4th quarter. Farther Finance Advisors LLC now owns 3,115 shares of the technology company’s stock valued at $68,000 after acquiring an additional 1,279 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Infosys by 14.2% in the fourth quarter. GAMMA Investing LLC now owns 4,496 shares of the technology company’s stock worth $99,000 after purchasing an additional 560 shares during the last quarter. 16.20% of the stock is currently owned by 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.