Infosys (NYSE:INFY) Shares Gap Up – Time to Buy?

Infosys Ltd. (NYSE:INFY)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $10.88, but opened at $11.28. Infosys shares last traded at $11.4450, with a volume of 2,261,279 shares changing hands.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Infosys from $16.80 to $12.70 and set an “overweight” rating for the company in a research report on Wednesday, June 24th. Wells Fargo & Company set a $11.00 price objective on Infosys and gave the company an “equal weight” rating in a research report on Friday, June 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Infosys in a research report on Monday, June 8th. Susquehanna cut their target price on Infosys from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Finally, TD Cowen reduced their price target on shares of Infosys from $16.00 to $15.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Infosys currently has an average rating of “Hold” and an average target price of $13.63.

Infosys Price Performance

The stock has a market cap of $44.21 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 1.47 and a beta of 0.90. The business has a 50 day moving average price of $11.89 and a two-hundred day moving average price of $14.30.

Infosys (NYSE:INFY) last issued its earnings results on Wednesday, April 1st. The technology company reported $0.23 EPS for the quarter. Infosys had a net margin of 16.44% and a return on equity of 32.64%. The company had revenue of $5.04 billion for the quarter. On average, sell-side analysts forecast that Infosys Ltd. will post 0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Infosys

Several hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Infosys during the first quarter worth about $97,000. Foster Group Inc. purchased a new position in Infosys during the 2nd quarter valued at about $127,000. State of Wyoming purchased a new position in Infosys during the 1st quarter valued at about $134,000. Aureus Asset Management LLC bought a new position in Infosys during the 1st quarter valued at approximately $142,000. Finally, Able Wealth Management LLC purchased a new stake in Infosys in the 1st quarter worth approximately $163,000. 16.20% of the stock is owned by institutional investors.

About Infosys

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. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.