Infosys (NYSE:INFY) Shares Gap Down – What’s Next?

Infosys Limited (NYSE:INFY)’s share price gapped down before the market opened on Friday . The stock had previously closed at $22.74, but opened at $22.14. Infosys shares last traded at $22.01, with a volume of 1,184,180 shares.

Analysts Set New Price Targets

Several research firms have weighed in on INFY. BMO Capital Markets increased their target price on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, Investec cut Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Infosys has a consensus rating of “Hold” and an average price target of $20.85.

Infosys Stock Down 2.6 %

The stock has a market capitalization of $91.70 billion, a P/E ratio of 28.35, a P/E/G ratio of 3.67 and a beta of 1.00. The stock has a 50 day simple moving average of $22.24 and a two-hundred day simple moving average of $20.90.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a net margin of 17.15% and a return on equity of 31.43%. During the same period in the previous year, the company earned $0.18 earnings per share. Sell-side analysts predict that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were issued a $0.2126 dividend. This represents a dividend yield of 1.1%. This is a boost from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date was Tuesday, October 29th. Infosys’s dividend payout ratio is presently 53.85%.

Hedge Funds Weigh In On Infosys

Institutional investors have recently bought and sold shares of the business. Mizuho Securities Co. Ltd. acquired a new stake in shares of Infosys in the third quarter valued at approximately $33,000. Hilltop National Bank lifted its holdings in Infosys by 50.8% during the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after purchasing an additional 1,004 shares during the last quarter. GAMMA Investing LLC boosted its position in Infosys by 22.6% during the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after purchasing an additional 541 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Infosys by 126.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock valued at $56,000 after purchasing an additional 1,693 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Infosys in the third quarter valued at about $57,000. Institutional investors and hedge funds own 10.89% of the company’s stock.

About Infosys

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides digital marketing and digital workplace, digital commerce, digital experience and interactions, metaverse, data analytics and AI, applied AI, generative AI, sustainability, blockchain, engineering, Internet of Things, enterprise agile DevOps, application modernization, cloud, digital process automation, digital supply chain, Microsoft business application and cloud business, service experience transformation, energy transition, cyber security, and quality engineering solutions; Oracle, SAP, and Saleforce solutions; API economy and microservices; and Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies.