Infosys (NYSE:INFY) Shares Gap Down – What’s Next?

Shares of Infosys Limited (NYSE:INFY) gapped down prior to trading 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

INFY has been the subject of a number of research reports. Hsbc Global Res raised shares of Infosys from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Guggenheim reaffirmed a “neutral” rating on shares of Infosys in a report on Friday, January 17th. CLSA raised Infosys from a “hold” rating to an “outperform” rating in a report on Friday, March 7th. HSBC upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Finally, StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.22.

Infosys Stock Performance

The stock’s 50 day simple moving average is $21.49 and its 200 day simple moving average is $22.15. The firm has a market cap of $76.90 billion, a PE ratio of 23.48, a PEG ratio of 3.50 and a beta of 1.01.

Infosys (NYSE:INFY) last released its earnings results on Thursday, January 16th. The technology company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. 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 firm earned $0.18 EPS. As a group, analysts anticipate that Infosys Limited will post 0.74 earnings per share for the current year.

Institutional Investors Weigh In On Infosys

A number of large investors have recently added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new position in Infosys during the 4th quarter valued at about $29,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Infosys during the third quarter valued at approximately $33,000. Brooklyn Investment Group bought a new position in shares of Infosys during the fourth quarter valued at approximately $52,000. Wilmington Savings Fund Society FSB bought a new stake in Infosys in the third quarter valued at $57,000. Finally, Farther Finance Advisors LLC increased its position in Infosys by 69.7% during the 4th quarter. Farther Finance Advisors LLC now owns 3,115 shares of the technology company’s stock valued at $68,000 after purchasing an additional 1,279 shares during the period. Institutional investors own 16.20% of the company’s stock.

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.