Infosys (NYSE:INFY) Shares Down 3.3% – Here’s What Happened

Shares of Infosys Limited (NYSE:INFY) traded down 3.3% during mid-day trading on Thursday . The stock traded as low as $17.90 and last traded at $17.95. 3,016,957 shares were traded during mid-day trading, a decline of 68% from the average session volume of 9,345,218 shares. The stock had previously closed at $18.57.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Guggenheim restated a “neutral” rating on shares of Infosys in a report on Friday, January 17th. HSBC upgraded Infosys from a “hold” rating to a “buy” rating in a report on Monday, December 9th. CLSA upgraded Infosys from a “hold” rating to an “outperform” rating in a report on Friday, March 7th. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Hsbc Global Res raised Infosys from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Infosys presently has an average rating of “Hold” and a consensus target price of $19.70.

Infosys Trading Up 1.5 %

The stock has a market capitalization of $75.96 billion, a PE ratio of 23.21, a P/E/G ratio of 3.50 and a beta of 1.01. The firm has a 50 day moving average of $20.81 and a two-hundred day moving average of $21.91.

Infosys (NYSE:INFY) last released its quarterly earnings data on Thursday, January 16th. The technology company reported $0.19 earnings per share 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 in the prior year, the company posted $0.18 earnings per share. Equities research analysts forecast that Infosys Limited will post 0.74 EPS for the current year.

Institutional Investors Weigh In On Infosys

Large investors have recently bought and sold shares of the stock. Sierra Ocean LLC acquired a new stake in shares of Infosys during the fourth quarter worth $29,000. Brooklyn Investment Group acquired a new position in Infosys in the fourth quarter valued at $52,000. Wilmington Savings Fund Society FSB acquired a new position in Infosys in the third quarter valued at $57,000. Farther Finance Advisors LLC boosted its holdings in Infosys by 69.7% in the fourth 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 boosted its holdings in Infosys by 14.2% in the fourth quarter. GAMMA Investing LLC now owns 4,496 shares of the technology company’s stock valued at $99,000 after acquiring an additional 560 shares during the last quarter. Institutional investors and hedge funds 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.