Infosys Limited (NYSE:INFY) Given Average Recommendation of “Hold” by Brokerages

Shares of Infosys Limited (NYSE:INFY) have been given an average rating of “Hold” by the eleven ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $19.27.

A number of equities research analysts have recently weighed in on INFY shares. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Bank of America raised shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. Guggenheim assumed coverage on shares of Infosys in a report on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 price objective for the company. Susquehanna reduced their target price on shares of Infosys from $15.00 to $14.00 and set a “negative” rating on the stock in a report on Friday, April 19th. Finally, BMO Capital Markets cut their price objective on Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, April 19th.

Infosys Stock Down 0.1 %

NYSE:INFY opened at $17.79 on Friday. The company has a market capitalization of $73.65 billion, a P/E ratio of 23.41, a P/E/G ratio of 3.28 and a beta of 0.96. Infosys has a 52 week low of $15.11 and a 52 week high of $20.74. The stock’s fifty day moving average is $17.23 and its two-hundred day moving average is $18.38.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, April 18th. The technology company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. Infosys had a net margin of 17.06% and a return on equity of 32.33%. The firm had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same period in the prior year, the business posted $0.18 EPS. Sell-side analysts anticipate that Infosys will post 0.75 earnings per share for the current fiscal year.

Infosys Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 31st were given a dividend of $0.2035 per share. The ex-dividend date was Friday, May 31st. This represents a dividend yield of 1.4%. Infosys’s dividend payout ratio is currently 36.84%.

Institutional Investors Weigh In On Infosys

Several institutional investors have recently added to or reduced their stakes in INFY. First Trust Advisors LP raised its holdings in Infosys by 3.6% during the fourth quarter. First Trust Advisors LP now owns 25,209,033 shares of the technology company’s stock worth $463,342,000 after purchasing an additional 884,833 shares in the last quarter. FMR LLC grew its position in shares of Infosys by 15.2% in the 3rd quarter. FMR LLC now owns 24,819,637 shares of the technology company’s stock valued at $424,664,000 after buying an additional 3,275,485 shares during the last quarter. FIL Ltd raised its stake in Infosys by 5.9% during the 4th quarter. FIL Ltd now owns 18,459,935 shares of the technology company’s stock worth $339,294,000 after acquiring an additional 1,031,371 shares in the last quarter. Sustainable Growth Advisers LP lifted its position in Infosys by 4.4% in the first quarter. Sustainable Growth Advisers LP now owns 16,591,434 shares of the technology company’s stock valued at $297,484,000 after acquiring an additional 699,641 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Infosys by 2.3% in the third quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock valued at $139,327,000 after acquiring an additional 180,888 shares in the last quarter. Hedge funds and other institutional investors 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.