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

Infosys Ltd. (NYSE:INFY) gapped up prior to trading on Tuesday . The stock had previously closed at $10.88, but opened at $11.28. Infosys shares last traded at $11.4450, with a volume of 2,261,279 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on INFY shares. BMO Capital Markets decreased their price target on shares of Infosys from $20.00 to $15.00 and set a “market perform” rating for the company in a research note on Friday, April 24th. Weiss Ratings restated a “hold (c-)” rating on shares of Infosys in a report on Monday, June 8th. JPMorgan Chase & Co. cut their price target on shares of Infosys from $16.80 to $12.70 and set an “overweight” rating on the stock in a research report on Wednesday, June 24th. Stifel Nicolaus set a $15.00 price objective on Infosys in a report on Thursday, April 23rd. Finally, TD Cowen lowered their target price on Infosys from $16.00 to $15.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Infosys presently has an average rating of “Hold” and an average price target of $13.63.

Infosys Stock Up 3.6%

The stock has a market cap of $45.63 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 1.45 and a beta of 0.90. The business’s 50 day simple moving average is $11.99 and its 200 day simple moving average is $14.46.

Infosys (NYSE:INFY) last issued its earnings results on Wednesday, April 1st. The technology company reported $0.23 EPS for the quarter. The company had revenue of $5.04 billion during the quarter. Infosys had a return on equity of 32.64% and a net margin of 16.44%. Equities research analysts forecast that Infosys Ltd. will post 0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Infosys

Hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Infosys in the first quarter valued at about $97,000. State of Wyoming bought a new position in Infosys during the first quarter worth about $134,000. Aureus Asset Management LLC acquired a new stake in Infosys in the 1st quarter worth about $142,000. Able Wealth Management LLC acquired a new stake in Infosys in the 1st quarter worth about $163,000. Finally, Dickmeyer Boyce Financial Management Inc. bought a new stake in Infosys in the 1st quarter valued at about $173,000. 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. 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.