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

Shares of Infosys Limited (NYSE:INFY) gapped down prior to trading on Wednesday . The stock had previously closed at $18.97, but opened at $18.49. Infosys shares last traded at $18.53, with a volume of 2,010,336 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Guggenheim restated a “neutral” rating on shares of Infosys in a report on Friday, January 17th. CLSA raised shares of Infosys from a “hold” rating to an “outperform” rating in a research note on Friday, March 7th. HSBC raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Hsbc Global Res raised shares of Infosys from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Finally, StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $19.78.

Infosys Stock Down 1.3 %

The stock has a market capitalization of $75.66 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 3.50 and a beta of 1.01. The business’s 50 day simple moving average is $21.33 and its two-hundred day simple moving average is $22.10.

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 analysts’ consensus estimates of $0.19. Infosys had a net margin of 17.28% and a return on equity of 31.60%. During the same period last year, the business earned $0.18 EPS. Analysts predict that Infosys Limited will post 0.74 earnings per share for the current year.

Institutional Trading of Infosys

Several institutional investors have recently made changes to their positions in INFY. AQR Capital Management LLC grew its stake in shares of Infosys by 270.9% in the 4th quarter. AQR Capital Management LLC now owns 9,164,085 shares of the technology company’s stock worth $200,877,000 after acquiring an additional 6,693,127 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Infosys by 6,071.1% in the 3rd quarter. Victory Capital Management Inc. now owns 4,739,830 shares of the technology company’s stock worth $105,556,000 after acquiring an additional 4,663,023 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Infosys by 118.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,912,259 shares of the technology company’s stock worth $173,437,000 after acquiring an additional 4,296,291 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Infosys by 14.5% in the 4th quarter. First Trust Advisors LP now owns 32,410,108 shares of the technology company’s stock worth $710,430,000 after acquiring an additional 4,108,903 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Infosys by 1,668.3% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,228,211 shares of the technology company’s stock worth $75,470,000 after acquiring an additional 3,045,656 shares in the last quarter. 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.