Infosys (NYSE:INFY) Shares Gap Down to $22.97

Infosys Limited (NYSE:INFY)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $22.97, but opened at $22.48. Infosys shares last traded at $22.56, with a volume of 298,208 shares.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on INFY. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Finally, StockNews.com raised Infosys from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Infosys currently has a consensus rating of “Moderate Buy” and an average price target of $19.27.

Infosys Trading Down 2.4 %

The company has a 50 day simple moving average of $22.06 and a 200 day simple moving average of $19.34. The stock has a market capitalization of $92.82 billion, a PE ratio of 30.22, a P/E/G ratio of 3.63 and a beta of 0.99.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. Infosys had a net margin of 17.18% and a return on equity of 32.01%. The company had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the previous year, the company posted $0.17 EPS. On average, equities research analysts predict that Infosys Limited will post 0.75 EPS for the current year.

Hedge Funds Weigh In On Infosys

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings 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. Hilltop National Bank raised its stake in shares of Infosys by 50.8% during the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after buying an additional 1,004 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Infosys by 126.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after buying an additional 1,693 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in Infosys in the 4th quarter valued at about $56,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Infosys by 113.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,130 shares of the technology company’s stock valued at $58,000 after acquiring an additional 1,663 shares in the last quarter. 10.89% of the stock is 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 digital marketing and digital workplace, digital commerce, digital experience and interactions, metaverse, data analytics and AI, applied AI, generative AI, sustainability, blockchain, engineering, Internet of Things, enterprise agile DevOps, application modernization, cloud, digital process automation, digital supply chain, Microsoft business application and cloud business, service experience transformation, energy transition, cyber security, and quality engineering solutions; Oracle, SAP, and Saleforce solutions; API economy and microservices; and Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies.