Infosys (NYSE:INFY) Shares Gap Down – Should You Sell?

Infosys Limited (NYSE:INFY) gapped down prior to trading on Thursday . The stock had previously closed at $23.27, but opened at $22.63. Infosys shares last traded at $22.56, with a volume of 1,077,281 shares changing hands.

Analyst Ratings Changes

Several research firms recently weighed in on INFY. StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. Finally, Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Two research 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 has a consensus rating of “Hold” and a consensus price target of $19.68.

Infosys Stock Down 3.1 %

The firm has a 50 day moving average of $22.46 and a 200 day moving average of $19.73. The firm has a market cap of $93.40 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 3.59 and a beta of 0.99.

Infosys (NYSE:INFY) last released its earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.67 billion. Infosys had a net margin of 17.18% and a return on equity of 32.01%. During the same quarter in the previous year, the company earned $0.17 EPS. Equities analysts expect that Infosys Limited will post 0.75 EPS 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. Mercer Global Advisors Inc. ADV raised its holdings in Infosys by 2.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock worth $328,000 after buying an additional 505 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Infosys by 22.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after purchasing an additional 541 shares during the period. D Orazio & Associates Inc. boosted its holdings in shares of Infosys by 4.1% in the 2nd quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock worth $274,000 after buying an additional 584 shares during the last quarter. Somerset Trust Co boosted its stake in Infosys by 4.2% in the second quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock valued at $282,000 after acquiring an additional 611 shares during the last quarter. Finally, Seed Wealth Management Inc. grew its holdings in Infosys by 5.6% during the second quarter. Seed Wealth Management Inc. now owns 18,260 shares of the technology company’s stock valued at $340,000 after purchasing an additional 970 shares during the period. 10.89% of the stock is owned by institutional investors.

About Infosys

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.