Infosys (NYSE:INFY) Shares Gap Down – Time to Sell?

Infosys Limited (NYSE:INFY)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $23.42, but opened at $22.63. Infosys shares last traded at $22.56, with a volume of 650,888 shares traded.

Analyst Upgrades and Downgrades

INFY has been the topic of a number of recent research reports. BMO Capital Markets upped their price target on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Hsbc Global Res raised shares of Infosys from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. HSBC upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Finally, Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Infosys presently has an average rating of “Moderate Buy” and an average price target of $20.85.

Infosys Trading Down 2.7 %

The stock’s fifty day moving average is $22.31 and its two-hundred day moving average is $21.50. The firm has a market cap of $94.39 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 3.77 and a beta of 1.00.

Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Infosys had a net margin of 17.15% and a return on equity of 31.43%. During the same quarter in the prior year, the firm posted $0.18 earnings per share. On average, analysts forecast that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were paid a $0.2126 dividend. This is an increase from Infosys’s previous semi-annual dividend of $0.20. This represents a yield of 1.1%. The ex-dividend date was Tuesday, October 29th. Infosys’s dividend payout ratio (DPR) is currently 53.85%.

Hedge Funds Weigh In On Infosys

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. DGS Capital Management LLC boosted its stake in Infosys by 15.9% in the third quarter. DGS Capital Management LLC now owns 63,209 shares of the technology company’s stock worth $1,408,000 after buying an additional 8,692 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Infosys by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 11,272,051 shares of the technology company’s stock worth $263,315,000 after acquiring an additional 322,648 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Infosys by 31.6% in the 3rd quarter. Tidal Investments LLC now owns 42,315 shares of the technology company’s stock valued at $942,000 after purchasing an additional 10,149 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Infosys in the 3rd quarter valued at $57,000. Finally, Tudor Financial Inc. bought a new position in shares of Infosys during the 3rd quarter valued at $496,000. Hedge funds and other institutional investors own 16.20% of the company’s stock.

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.