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

Infosys Ltd. (NYSE:INFY) gapped down before the market opened on Tuesday . The stock had previously closed at $11.50, but opened at $10.90. Infosys shares last traded at $11.1650, with a volume of 3,179,237 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company set a $11.00 price objective on Infosys and gave the company an “equal weight” rating in a research note on Friday, June 26th. JPMorgan Chase & Co. cut their target price on Infosys from $16.80 to $12.70 and set an “overweight” rating on the stock in a research report on Wednesday, June 24th. Susquehanna decreased their price target on Infosys from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, July 10th. BMO Capital Markets lowered their price target on Infosys from $20.00 to $15.00 and set a “market perform” rating for the company in a research report on Friday, April 24th. Finally, Stifel Nicolaus set a $15.00 price objective on shares of Infosys in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.75.

Infosys Stock Down 0.2%

The stock has a market cap of $44.62 billion, a P/E ratio of 13.78, a PEG ratio of 1.45 and a beta of 0.90. The business has a 50 day moving average price of $11.76 and a 200 day moving average price of $14.02.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Wednesday, April 1st. The technology company reported $0.23 earnings per share (EPS) for the quarter. Infosys had a return on equity of 32.64% and a net margin of 16.44%.The firm had revenue of $5.04 billion during the quarter. On average, research analysts expect that Infosys Ltd. will post 0.82 earnings per share for the current fiscal year.

Institutional Trading of Infosys

A number of large investors have recently made changes to their positions in INFY. V Square Quantitative Management LLC purchased a new position in Infosys in the 1st quarter worth about $97,000. Foster Group Inc. purchased a new stake in Infosys in the 2nd quarter valued at about $127,000. State of Wyoming purchased a new stake in Infosys in the 1st quarter valued at about $134,000. Aureus Asset Management LLC bought a new position in Infosys in the 1st quarter worth about $142,000. Finally, Able Wealth Management LLC bought a new position in Infosys in the 1st quarter worth about $163,000. 16.20% of the stock is owned by hedge funds and other 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. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.