Infosys (NYSE:INFY) Shares Gap Down – Time to Sell?

Infosys Limited (NYSE:INFY)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $22.90, but opened at $22.23. Infosys shares last traded at $22.10, with a volume of 788,808 shares trading hands.

Analyst Upgrades and Downgrades

INFY has been the subject of several recent analyst reports. Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Finally, Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Infosys currently has an average rating of “Hold” and an average price target of $19.68.

Infosys Stock Down 2.5 %

The business’s fifty day moving average is $22.62 and its two-hundred day moving average is $19.91. The firm has a market cap of $92.45 billion, a price-to-earnings ratio of 30.13, a price-to-earnings-growth ratio of 3.68 and a beta of 0.99.

Infosys (NYSE:INFY) last released its earnings results on Thursday, July 18th. The technology company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Infosys had a return on equity of 32.01% and a net margin of 17.18%. The company had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same period last year, the firm earned $0.17 EPS. Research analysts forecast that Infosys Limited will post 0.75 EPS for the current year.

Institutional Trading of Infosys

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. grew its position in shares of Infosys by 3.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 823,280 shares of the technology company’s stock worth $18,334,000 after buying an additional 30,574 shares during the period. Birch Capital Management LLC boosted its stake in Infosys by 5.4% in the third quarter. Birch Capital Management LLC now owns 271,974 shares of the technology company’s stock valued at $6,057,000 after acquiring an additional 13,838 shares during the last quarter. Creative Planning grew its holdings in Infosys by 26.4% during the 3rd quarter. Creative Planning now owns 400,866 shares of the technology company’s stock worth $8,927,000 after acquiring an additional 83,648 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in shares of Infosys by 20.3% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 347,420 shares of the technology company’s stock valued at $7,737,000 after acquiring an additional 58,633 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its stake in shares of Infosys by 38.7% in the 3rd quarter. Ritholtz Wealth Management now owns 41,638 shares of the technology company’s stock valued at $927,000 after purchasing an additional 11,612 shares during the period. 10.89% of the stock is currently owned by institutional investors and hedge funds.

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 digital marketing and digital workplace, digital commerce, digital experience and interactions, metaverse, data analytics and AI, applied AI, generative AI, sustainability, blockchain, engineering, Internet of Things, enterprise agile DevOps, application modernization, cloud, digital process automation, digital supply chain, Microsoft business application and cloud business, service experience transformation, energy transition, cyber security, and quality engineering solutions; Oracle, SAP, and Saleforce solutions; API economy and microservices; and Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies.