Infosys (NYSE:INFY) Shares Gap Up - Here's What Happened

Shares of Infosys Limited (NYSE:INFY - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $16.14, but opened at $16.86. Infosys shares last traded at $16.49, with a volume of 2,821,154 shares.

Analyst Upgrades and Downgrades

Several analysts have weighed in on INFY shares. Investec raised Infosys from a "sell" rating to a "buy" rating in a research report on Friday. Stifel Nicolaus dropped their price target on Infosys from $18.00 to $17.00 and set a "hold" rating on the stock in a research report on Monday. Susquehanna raised Infosys from a "negative" rating to a "neutral" rating and set a $17.00 price target on the stock in a research note on Monday, April 14th. BMO Capital Markets lowered their price objective on Infosys from $25.00 to $18.00 and set a "market perform" rating for the company in a research report on Monday. Finally, The Goldman Sachs Group downgraded shares of Infosys from a "buy" rating to a "neutral" rating and set a $17.90 target price on the stock. in a research report on Monday. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.48.

Infosys Trading Up 2.7 %

The firm has a market capitalization of $68.68 billion, a PE ratio of 20.99, a P/E/G ratio of 3.50 and a beta of 0.97. The firm has a 50 day simple moving average of $18.85 and a 200 day simple moving average of $21.09.

Infosys (NYSE:INFY - Get Free Report) last issued its earnings results on Thursday, April 17th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. Infosys had a net margin of 17.28% and a return on equity of 31.60%. The company had revenue of $4.79 billion for the quarter, compared to analysts' expectations of $420.69 billion. During the same quarter last year, the company posted $0.23 earnings per share. Research analysts forecast that Infosys Limited will post 0.74 earnings per share for the current year.

Institutional Trading of Infosys

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INFY. Sierra Ocean LLC bought a new stake in shares of Infosys during the 4th quarter valued at $29,000. Rakuten Securities Inc. lifted its position in Infosys by 308.4% during the first quarter. Rakuten Securities Inc. now owns 1,413 shares of the technology company's stock valued at $26,000 after purchasing an additional 1,067 shares in the last quarter. Brooklyn Investment Group bought a new stake in Infosys during the fourth quarter valued at about $52,000. Wilmington Savings Fund Society FSB purchased a new stake in Infosys in the third quarter worth about $57,000. Finally, Farther Finance Advisors LLC increased its position in Infosys by 69.7% in the fourth quarter. Farther Finance Advisors LLC now owns 3,115 shares of the technology company's stock worth $68,000 after buying an additional 1,279 shares in the last quarter. 16.20% of the stock is owned by hedge funds and other institutional investors.

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.

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