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

Infosys Ltd. (NYSE:INFY) shares 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.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. BMO Capital Markets dropped their price target on Infosys from $20.00 to $15.00 and set a “market perform” rating on the stock in a research note on Friday, April 24th. Stifel Nicolaus set a $15.00 price objective on shares of Infosys in a report on Thursday, April 23rd. Susquehanna decreased their price objective on shares of Infosys from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, July 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of Infosys in a research report on Monday, June 8th. Finally, TD Cowen cut their target price on shares of Infosys from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Thursday, July 9th. One 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $12.75.

Infosys Stock Performance

The firm has a market cap of $44.78 billion, a P/E ratio of 13.83, a P/E/G ratio of 1.51 and a beta of 0.90. The company’s 50 day moving average is $11.79 and its 200 day moving average is $14.07.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Wednesday, April 1st. The technology company reported $0.23 EPS 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. On average, equities research analysts anticipate that Infosys Ltd. will post 0.82 EPS for the current year.

Institutional Investors Weigh In On Infosys

Several large investors have recently added to or reduced their stakes in the business. Trinity Street Asset Management LLP increased its position in shares of 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 valued at $201,820,000 after buying an additional 4,674,742 shares during the period. Hudson Edge Investment Partners Inc. boosted its position in shares of Infosys by 56.5% in the first quarter. Hudson Edge Investment Partners Inc. now owns 4,452,990 shares of the technology company’s stock valued at $60,160,000 after acquiring an additional 1,607,300 shares during the period. Boston Common Asset Management LLC increased its holdings in shares of Infosys by 1.1% in the first quarter. Boston Common Asset Management LLC now owns 208,639 shares of the technology company’s stock worth $2,819,000 after purchasing an additional 2,300 shares during the period. Laidlaw Wealth Management LLC raised its position 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 worth $198,000 after buying an additional 3,450 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in Infosys by 49.3% during the first quarter. Bessemer Group Inc. now owns 1,720,708 shares of the technology company’s stock valued at $23,248,000 after buying an additional 568,573 shares during the period. 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.