Infosys (NYSE:INFY) Upgraded at StockNews.com

StockNews.com upgraded shares of Infosys (NYSE:INFY) from a hold rating to a buy rating in a report published on Saturday morning.

INFY has been the subject of a number of other research reports. Bank of America upgraded shares of Infosys from a neutral rating to a buy rating in a research report on Tuesday, April 9th. BMO Capital Markets cut their price target on shares of Infosys from $21.00 to $18.00 and set a market perform rating for the company in a report on Friday, April 19th. Macquarie raised shares of Infosys from an underperform rating to a neutral rating in a report on Friday, July 19th. HSBC reissued a hold rating and issued a $20.10 price target on shares of Infosys in a report on Friday, April 19th. Finally, Susquehanna cut their price target on shares of Infosys from $15.00 to $14.00 and set a negative rating for the company in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $19.27.

Infosys Stock Performance

Infosys stock opened at $22.59 on Friday. The company has a 50-day simple moving average of $18.90 and a 200-day simple moving average of $18.75. The firm has a market capitalization of $93.52 billion, a P/E ratio of 29.72, a P/E/G ratio of 3.61 and a beta of 0.98. Infosys has a one year low of $16.04 and a one year high of $22.94.

Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, July 18th. The technology company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.67 billion. Infosys had a net margin of 17.18% and a return on equity of 32.01%. During the same quarter in the prior year, the firm earned $0.17 earnings per share. As a group, sell-side analysts forecast that Infosys will post 0.75 earnings per share for the current year.

Infosys Cuts Dividend

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

Institutional Trading of Infosys

A number of hedge funds have recently bought and sold shares of INFY. Acadian Asset Management LLC lifted its stake in Infosys by 106.1% during the first quarter. Acadian Asset Management LLC now owns 4,839,764 shares of the technology company’s stock valued at $86,764,000 after buying an additional 2,491,403 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Infosys by 539.8% in the 4th quarter. Wellington Management Group LLP now owns 2,010,636 shares of the technology company’s stock valued at $36,955,000 after purchasing an additional 1,696,378 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Infosys by 76.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,585,850 shares of the technology company’s stock valued at $64,294,000 after purchasing an additional 1,549,650 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Infosys by 49.3% in the 1st quarter. BNP Paribas Financial Markets now owns 3,741,065 shares of the technology company’s stock valued at $67,077,000 after purchasing an additional 1,235,140 shares during the period. Finally, Franklin Resources Inc. increased its holdings 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 valued at $123,508,000 after purchasing an additional 1,150,885 shares during the period. 10.89% of the stock is owned by hedge funds and other institutional investors.

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.