Infosys (NYSE:INFY) Shares Gap Down – Here’s What Happened

Infosys Limited (NYSE:INFY) shares gapped down prior to trading 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 changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INFY. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Investec lowered Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Finally, BMO Capital Markets upped their target price on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Infosys currently has an average rating of “Hold” and an average price target of $20.85.

Infosys Stock Performance

The stock has a market capitalization of $91.41 billion, a P/E ratio of 28.29, a P/E/G ratio of 3.67 and a beta of 1.00. The stock has a 50 day moving average of $22.23 and a 200 day moving average of $20.96.

Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the business posted $0.18 earnings per share. On average, research analysts anticipate that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Infosys by 2.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock valued at $328,000 after purchasing an additional 505 shares during the last quarter. Canopy Partners LLC lifted its stake in Infosys by 3.1% in the 3rd quarter. Canopy Partners LLC now owns 17,129 shares of the technology company’s stock worth $381,000 after acquiring an additional 522 shares in the last quarter. Outlook Wealth Advisors LLC lifted its stake in Infosys by 3.0% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company’s stock worth $399,000 after acquiring an additional 526 shares in the last quarter. GAMMA Investing LLC lifted its stake in Infosys by 22.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after acquiring an additional 541 shares in the last quarter. Finally, D Orazio & Associates Inc. lifted its stake in Infosys by 4.1% in the 2nd quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock worth $274,000 after acquiring an additional 584 shares in the last quarter. Institutional investors 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.