Infosys (NYSE:INFY) Reaches New 12-Month High at $22.79

Infosys Limited (NYSE:INFY)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $22.79 and last traded at $22.71, with a volume of 538106 shares changing hands. The stock had previously closed at $22.01.

Wall Street Analyst Weigh In

INFY has been the subject of a number of recent research reports. BMO Capital Markets dropped their price objective on Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a research report on Friday, April 19th. HSBC restated a “hold” rating and issued a $20.10 target price on shares of Infosys in a research note on Friday, April 19th. StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. Bank of America upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. Finally, Susquehanna dropped their target price 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 research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Infosys has a consensus rating of “Hold” and a consensus price target of $19.27.

Infosys Stock Performance

The stock has a market cap of $94.02 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 3.46 and a beta of 0.98. The firm’s 50-day simple moving average is $18.68 and its two-hundred day simple moving average is $18.68.

Infosys (NYSE:INFY) last posted its earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. Infosys had a net margin of 17.18% and a return on equity of 32.01%. 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 business posted $0.17 earnings per share. Equities research analysts expect that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Cuts Dividend

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

Hedge Funds Weigh In On Infosys

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new stake in shares of Infosys in the fourth quarter valued at approximately $36,000. Planned Solutions Inc. acquired a new stake in Infosys during the 4th quarter valued at $50,000. Hilltop National Bank boosted its position in Infosys by 50.8% during the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after purchasing an additional 1,004 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of Infosys during the 4th quarter worth about $56,000. Finally, EverSource Wealth Advisors LLC grew its stake in Infosys by 113.4% in 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 last quarter. Institutional investors own 10.89% of the company’s stock.

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.