Infosys (NYSE:INFY) Shares Gap Down to $16.95

Infosys Limited (NYSE:INFY)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $16.95, but opened at $16.26. Infosys shares last traded at $16.47, with a volume of 4,386,091 shares traded.

Analyst Upgrades and Downgrades

INFY has been the subject of several analyst reports. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. BMO Capital Markets boosted their target price on Infosys from $18.00 to $21.00 and gave the stock a “market perform” rating in a research report on Friday, January 12th. UBS Group upgraded Infosys from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 3rd. Wedbush reiterated an “outperform” rating and issued a $22.00 price objective on shares of Infosys in a research report on Wednesday, March 13th. Finally, HSBC upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Monday, April 1st. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $20.76.

Infosys Trading Down 1.9 %

The company has a market cap of $68.83 billion, a P/E ratio of 23.86, a PEG ratio of 2.25 and a beta of 0.93. The business has a 50 day moving average price of $18.94 and a 200-day moving average price of $18.35.

Institutional Investors Weigh In On Infosys

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Buckingham Capital Management Inc. raised its stake in Infosys by 0.6% in the 4th quarter. Buckingham Capital Management Inc. now owns 87,324 shares of the technology company’s stock valued at $1,605,000 after acquiring an additional 499 shares during the period. HB Wealth Management LLC raised its stake in Infosys by 5.7% in the 4th quarter. HB Wealth Management LLC now owns 10,661 shares of the technology company’s stock valued at $196,000 after acquiring an additional 575 shares during the period. GAMMA Investing LLC raised its stake in Infosys by 33.0% in the 1st quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock valued at $43,000 after acquiring an additional 593 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in Infosys by 7.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 8,840 shares of the technology company’s stock valued at $142,000 after buying an additional 610 shares in the last quarter. Finally, Marshall Financial Group LLC grew its holdings in Infosys by 1.2% in the 4th quarter. Marshall Financial Group LLC now owns 52,478 shares of the technology company’s stock valued at $965,000 after buying an additional 622 shares in the last quarter. Institutional investors own 10.89% of the company’s stock.

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 application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.