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

Infosys Ltd. (NYSE:INFY)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $11.50, but opened at $10.90. Infosys shares last traded at $11.1650, with a volume of 3,179,237 shares.

Analysts Set New Price Targets

INFY has been the topic of several research reports. TD Cowen cut their target price on Infosys from $13.00 to $10.00 and set a “hold” rating on the stock in a research report on Thursday, July 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Infosys in a report on Monday, June 8th. Wells Fargo & Company set a $11.00 target price on Infosys and gave the stock an “equal weight” rating in a report on Friday, June 26th. JPMorgan Chase & Co. cut their price target on shares of Infosys from $16.80 to $12.70 and set an “overweight” rating on the stock in a report on Wednesday, June 24th. Finally, BMO Capital Markets reduced their price target on shares of Infosys from $20.00 to $15.00 and set a “market perform” rating for the company in a research report on Friday, April 24th. One 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. Based on data from MarketBeat.com, Infosys currently has a consensus rating of “Hold” and a consensus price target of $12.75.

Infosys Stock Performance

The firm’s 50 day moving average is $11.82 and its 200-day moving average is $14.13. The stock has a market capitalization of $45.10 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.42 and a beta of 0.90.

Infosys (NYSE:INFY) last released its quarterly 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. As a group, sell-side analysts forecast that Infosys Ltd. will post 0.83 earnings per share for the current year.

Institutional Investors Weigh In On Infosys

A number of institutional investors have recently modified their holdings of INFY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Infosys by 6.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,155 shares of the technology company’s stock valued at $1,153,000 after purchasing an additional 3,804 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Infosys by 79.9% in the 1st quarter. NewEdge Advisors LLC now owns 54,978 shares of the technology company’s stock worth $1,003,000 after purchasing an additional 24,426 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Infosys during the first quarter worth approximately $239,000. Trinity Street Asset Management LLP boosted its position in Infosys by 45.5% during the first quarter. Trinity Street Asset Management LLP now owns 14,938,546 shares of the technology company’s stock worth $201,820,000 after purchasing an additional 4,674,742 shares in the last quarter. Finally, Deltec Asset Management LLC grew its holdings in Infosys by 13.6% in the first quarter. Deltec Asset Management LLC now owns 58,500 shares of the technology company’s stock valued at $790,000 after purchasing an additional 7,000 shares during the period. 16.20% of the stock is currently owned by institutional investors and hedge funds.

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. 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.