Infosys (NYSE:INFY) Shares Down 3.3% – Here’s What Happened

Infosys Limited (NYSE:INFY) shares dropped 3.3% during mid-day trading on Thursday . The company traded as low as $17.90 and last traded at $17.95. Approximately 3,016,957 shares traded hands during trading, a decline of 68% from the average daily volume of 9,345,218 shares. The stock had previously closed at $18.57.

Wall Street Analysts Forecast Growth

INFY has been the topic of a number of recent research reports. CLSA raised Infosys from a “hold” rating to an “outperform” rating in a research report on Friday, March 7th. StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a report on Thursday. Guggenheim reissued a “neutral” rating on shares of Infosys in a report on Friday, January 17th. HSBC raised Infosys from a “hold” rating to a “buy” rating in a report on Monday, December 9th. Finally, Hsbc Global Res raised Infosys from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $19.70.

Infosys Stock Up 1.5 %

The firm has a 50-day moving average of $20.81 and a two-hundred day moving average of $21.91. The company has a market capitalization of $75.96 billion, a PE ratio of 23.21, a PEG ratio of 3.50 and a beta of 1.01.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, January 16th. The technology company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. Infosys had a return on equity of 31.60% and a net margin of 17.28%. During the same period last year, the firm earned $0.18 EPS. Equities analysts predict that Infosys Limited will post 0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Infosys

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in Infosys during the fourth quarter worth $311,000. Jones Financial Companies Lllp boosted its stake in Infosys by 15.9% during the fourth quarter. Jones Financial Companies Lllp now owns 7,520 shares of the technology company’s stock worth $165,000 after buying an additional 1,030 shares during the last quarter. Haven Global Partners LLC acquired a new position in Infosys during the fourth quarter worth $4,078,000. Nomura Asset Management Co. Ltd. boosted its stake in Infosys by 22.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 670,907 shares of the technology company’s stock worth $14,941,000 after buying an additional 123,083 shares during the last quarter. Finally, Barclays PLC boosted its stake in Infosys by 11.8% during the third quarter. Barclays PLC now owns 2,523,605 shares of the technology company’s stock worth $56,200,000 after buying an additional 266,902 shares during the last quarter. Institutional investors and hedge funds own 16.20% of the company’s stock.

Infosys Company Profile

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.