Infosys (NYSE:INFY) Hits New 52-Week High at $22.55

Infosys Limited (NYSE:INFY) reached a new 52-week high during trading on Thursday . The stock traded as high as $22.55 and last traded at $22.44, with a volume of 2539661 shares trading hands. The stock had previously closed at $20.53.

Analyst Ratings Changes

Several research firms have commented on INFY. StockNews.com upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Tuesday, July 9th. HSBC restated a “hold” rating and issued a $20.10 target price on shares of Infosys in a research note on Friday, April 19th. Bank of America upgraded Infosys from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 9th. BMO Capital Markets lowered their price target 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. Finally, Susquehanna lowered their price target on Infosys from $15.00 to $14.00 and set a “negative” rating on the stock in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Infosys presently has a consensus rating of “Moderate Buy” and an average price target of $19.27.

Infosys Trading Up 7.7 %

The company has a 50 day moving average of $18.08 and a 200-day moving average of $18.53. The firm has a market capitalization of $91.53 billion, a P/E ratio of 29.53, a P/E/G ratio of 3.81 and a beta of 0.98.

Infosys (NYSE:INFY) last released its earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.49 billion. Infosys had a return on equity of 32.33% and a net margin of 17.06%. During the same period in the prior year, the company posted $0.18 EPS. As a group, sell-side analysts forecast that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Cuts Dividend

The business also recently announced 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 payout ratio is 38.16%.

Institutional Trading of Infosys

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Infosys by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock worth $139,327,000 after buying an additional 180,888 shares during the last quarter. Aikya Investment Management Ltd bought a new position in Infosys in the fourth quarter valued at about $71,409,000. Mutual Advisors LLC bought a new position in Infosys in the fourth quarter valued at about $229,000. HB Wealth Management LLC raised its position in Infosys by 5.7% in the fourth quarter. HB Wealth Management LLC now owns 10,661 shares of the technology company’s stock valued at $196,000 after purchasing an additional 575 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in Infosys by 18.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 33,638 shares of the technology company’s stock valued at $618,000 after purchasing an additional 5,159 shares during the last quarter. 10.89% of the stock is currently owned by institutional investors.

About Infosys

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.