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

Key Points

• Infosys shares gapped up before Monday’s trading, opening at $11.40 after closing at $10.94, with the stock last trading near $11.36 on elevated volume.
• Analyst sentiment remains cautious: the consensus rating is “Hold,” with an average price target of $12.75. Recent updates included lower targets from JPMorgan and TD Cowen, while Wells Fargo assigned an “equal weight” rating.
• Fundamentals and ownership show mixed signals: Infosys reported $0.23 EPS in its latest quarter on $5.04 billion in revenue, while institutional investors own about 16.2% of the stock and have been modestly adding positions.

Infosys Ltd. (NYSE:INFY - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $10.94, but opened at $11.40. Infosys shares last traded at $11.3550, with a volume of 1,501,949 shares trading hands.

Analyst Ratings Changes

A number of brokerages have commented on INFY. Wells Fargo & Company set a $11.00 price objective on Infosys and gave the stock 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 note on Monday, June 8th. Stifel Nicolaus set a $15.00 price target on shares of Infosys in a research note on Thursday, April 23rd. JPMorgan Chase & Co. lowered 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, TD Cowen dropped their price objective on shares of Infosys from $13.00 to $10.00 and set a "hold" rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $12.75.

Infosys Stock Performance

The company has a 50-day moving average of $11.84 and a 200 day moving average of $14.18. The firm has a market cap of $46.44 billion, a P/E ratio of 14.31, a P/E/G ratio of 1.42 and a beta of 0.90.

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

Institutional Investors Weigh In On Infosys

A number of hedge funds have recently made changes to their positions in the company. Boston Common Asset Management LLC lifted its holdings in Infosys by 1.1% during the 1st quarter. Boston Common Asset Management LLC now owns 208,639 shares of the technology company's stock valued at $2,819,000 after purchasing an additional 2,300 shares during the last quarter. Confluence Investment Management LLC increased its holdings in shares of Infosys by 19.1% during the second quarter. Confluence Investment Management LLC now owns 17,636 shares of the technology company's stock worth $185,000 after buying an additional 2,826 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in shares of Infosys by 17.8% during the first quarter. Glenmede Trust Co. NA now owns 21,055 shares of the technology company's stock worth $284,000 after buying an additional 3,179 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Infosys by 3.9% in the first quarter. Cetera Investment Advisers now owns 88,825 shares of the technology company's stock valued at $1,200,000 after acquiring an additional 3,308 shares during the last quarter. Finally, Laidlaw Wealth Management LLC raised its stake in shares of Infosys by 30.8% in the first quarter. Laidlaw Wealth Management LLC now owns 14,650 shares of the technology company's stock valued at $198,000 after acquiring an additional 3,450 shares during the last quarter. Institutional investors and hedge funds own 16.20% of the company's stock.

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.

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