Infosys (NYSE:INFY) Shares Gap Up to $18.22

Infosys Limited (NYSE:INFY) gapped up prior to trading on Thursday . The stock had previously closed at $18.22, but opened at $18.62. Infosys shares last traded at $18.63, with a volume of 1,097,280 shares traded.

Wall Street Analysts Forecast Growth

INFY has been the topic of a number of recent analyst reports. Wedbush restated an “outperform” rating and issued a $22.00 price target on shares of Infosys in a research report on Wednesday, March 13th. Bank of America upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. HSBC restated a “hold” rating and issued a $20.10 price target on shares of Infosys in a research report on Friday, April 19th. Susquehanna dropped their price target on shares of Infosys from $15.00 to $14.00 and set a “negative” rating on the stock in a research report on Friday, April 19th. Finally, Guggenheim began coverage on shares of Infosys in a research report on Tuesday, March 19th. They set a “neutral” rating and a $20.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $19.27.

Infosys Trading Down 0.1 %

The stock’s 50-day moving average is $17.38 and its 200-day moving average is $18.41. The company has a market cap of $77.09 billion, a price-to-earnings ratio of 24.50, a P/E/G ratio of 3.43 and a beta of 0.96.

Infosys (NYSE:INFY) last released its quarterly earnings data on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. Infosys had a net margin of 17.06% and a return on equity of 32.33%. The firm had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. As a group, analysts predict that Infosys Limited will post 0.75 EPS for the current year.

Infosys Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 31st were issued a dividend of $0.2035 per share. The ex-dividend date was Friday, May 31st. This represents a yield of 1.4%. Infosys’s payout ratio is 38.16%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. First Trust Advisors LP raised its holdings in Infosys by 3.6% during the fourth quarter. First Trust Advisors LP now owns 25,209,033 shares of the technology company’s stock worth $463,342,000 after buying an additional 884,833 shares during the last quarter. FIL Ltd grew its stake in shares of Infosys by 5.9% in the 4th quarter. FIL Ltd now owns 18,459,935 shares of the technology company’s stock worth $339,294,000 after acquiring an additional 1,031,371 shares in the last quarter. Sustainable Growth Advisers LP grew its stake in shares of Infosys by 4.4% in the 1st quarter. Sustainable Growth Advisers LP now owns 16,591,434 shares of the technology company’s stock worth $297,484,000 after acquiring an additional 699,641 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Infosys by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock worth $139,327,000 after acquiring an additional 180,888 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Infosys by 20.7% in the 4th quarter. Franklin Resources Inc. now owns 6,719,669 shares of the technology company’s stock worth $123,508,000 after acquiring an additional 1,150,885 shares in the last quarter. Institutional investors and hedge funds own 10.89% of the company’s stock.

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 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.