Infosys (NYSE:INFY) Shares Gap Down to $16.95

Infosys Limited (NYSE:INFY)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $16.95, but opened at $16.26. Infosys shares last traded at $16.47, with a volume of 4,386,091 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently issued reports on INFY. Guggenheim began coverage on Infosys in a research note on Tuesday, March 19th. They set a “neutral” rating and a $20.00 price objective on the stock. UBS Group upgraded Infosys from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 3rd. HSBC upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Monday, April 1st. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, BMO Capital Markets boosted their target price on Infosys from $18.00 to $21.00 and gave the stock a “market perform” rating in a research report on Friday, January 12th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Infosys currently has a consensus rating of “Moderate Buy” and an average target price of $20.76.

Infosys Trading Down 1.9 %

The company has a market capitalization of $68.83 billion, a PE ratio of 23.86, a PEG ratio of 2.25 and a beta of 0.93. The firm has a fifty day moving average of $18.94 and a two-hundred day moving average of $18.35.

Institutional Investors Weigh In On Infosys

Several institutional investors have recently bought and sold shares of INFY. Canada Pension Plan Investment Board purchased a new stake in Infosys during the 3rd quarter valued at about $158,356,000. State Street Corp lifted its holdings in Infosys by 34.6% in the 1st quarter. State Street Corp now owns 19,989,499 shares of the technology company’s stock worth $497,539,000 after buying an additional 5,143,124 shares during the period. Aikya Investment Management Ltd purchased a new stake in Infosys in the 4th quarter worth approximately $71,409,000. FMR LLC lifted its holdings in Infosys by 15.2% in the 3rd quarter. FMR LLC now owns 24,819,637 shares of the technology company’s stock worth $424,664,000 after buying an additional 3,275,485 shares during the period. Finally, Value Partners Investments Inc. lifted its holdings in Infosys by 857.8% in the 3rd quarter. Value Partners Investments Inc. now owns 2,701,000 shares of the technology company’s stock worth $46,214,000 after buying an additional 2,419,000 shares during the period. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.