Infosys (NYSE:INFY) Downgraded by StockNews.com to “Hold”

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

Other equities research analysts have also issued reports about the stock. Erste Group Bank raised shares of Infosys from a hold rating to a buy rating in a report on Wednesday, September 11th. Macquarie raised Infosys from an underperform rating to a neutral rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $19.27.

Infosys Stock Down 0.5 %

Infosys stock opened at $22.59 on Friday. The firm has a fifty day moving average of $22.31 and a 200-day moving average of $19.45. Infosys has a 52-week low of $16.04 and a 52-week high of $23.48. The firm has a market capitalization of $93.50 billion, a P/E ratio of 29.72, a PEG ratio of 3.63 and a beta of 0.99.

Infosys (NYSE:INFY) last released its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Infosys had a return on equity of 32.01% and a net margin of 17.18%. The company had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period last year, the company posted $0.17 earnings per share. On average, research analysts expect that Infosys will post 0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Infosys

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in shares of Infosys by 33.0% during the first quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock worth $43,000 after acquiring an additional 593 shares during the last quarter. Hilltop National Bank increased its position in Infosys by 50.8% in the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after acquiring an additional 1,004 shares during the period. Jones Financial Companies Lllp bought a new stake in Infosys during the 4th quarter valued at $56,000. Whittier Trust Co. of Nevada Inc. boosted its position in Infosys by 126.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after acquiring an additional 1,693 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Infosys by 113.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,130 shares of the technology company’s stock valued at $58,000 after buying an additional 1,663 shares during the period. 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.