Infosys (NYSE:INFY) Upgraded at HSBC

HSBC upgraded shares of Infosys (NYSE:INFY) from a hold rating to a buy rating in a research note released on Monday morning, MarketBeat Ratings reports.

A number of other equities analysts have also recently issued reports on INFY. Investec cut shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. BMO Capital Markets boosted their price target on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, October 18th. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.85.

Infosys Stock Performance

INFY stock opened at $23.36 on Monday. Infosys has a one year low of $16.04 and a one year high of $23.51. The company has a market capitalization of $96.73 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 3.69 and a beta of 1.00. The company’s 50 day moving average price is $22.25 and its two-hundred day moving average price is $21.26.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates 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 prior year, the business posted $0.18 earnings per share. On average, research analysts predict that Infosys will post 0.75 EPS for the current year.

Infosys Increases Dividend

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

Institutional Investors Weigh In On Infosys

A number of institutional investors have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV grew 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 buying an additional 505 shares during the last quarter. Canopy Partners LLC raised its stake in shares of Infosys by 3.1% in the third quarter. Canopy Partners LLC now owns 17,129 shares of the technology company’s stock worth $381,000 after purchasing an additional 522 shares during the last quarter. Outlook Wealth Advisors LLC lifted its holdings in shares of Infosys by 3.0% during the third quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company’s stock valued at $399,000 after purchasing an additional 526 shares in the last quarter. D Orazio & Associates Inc. boosted its position in shares of Infosys by 4.1% during the second quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock valued at $274,000 after buying an additional 584 shares during the last quarter. Finally, Modera Wealth Management LLC increased its holdings in Infosys by 0.4% in the 3rd quarter. Modera Wealth Management LLC now owns 183,028 shares of the technology company’s stock worth $4,076,000 after buying an additional 653 shares in the last quarter. 16.20% 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.