Infosys (NYSE:INFY) Upgraded by StockNews.com to Buy

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

Several other research analysts have also recently issued reports on INFY. Bank of America raised Infosys from a neutral rating to a buy rating in a research note on Tuesday, April 9th. BMO Capital Markets decreased their price target on shares of 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 set a $20.10 target price on shares of Infosys in a research note on Friday, April 19th. Macquarie upgraded shares of Infosys from an underperform rating to a neutral rating in a research note on Friday, July 19th. Finally, Susquehanna reduced their price objective on Infosys from $15.00 to $14.00 and set a negative rating for the company in a research note on Friday, April 19th. One investment 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 MarketBeat, Infosys currently has an average rating of Hold and a consensus price target of $19.27.

Infosys Stock Performance

Shares of NYSE INFY opened at $22.61 on Friday. The business’s 50 day moving average price is $19.01 and its 200-day moving average price is $18.77. The company has a market cap of $93.58 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 3.61 and a beta of 0.98. Infosys has a fifty-two week low of $16.04 and a fifty-two week high of $22.94.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, July 18th. The technology company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. Infosys had a net margin of 17.18% and a return on equity of 32.01%. The firm had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the prior year, the business posted $0.17 earnings per share. Sell-side analysts predict that Infosys will post 0.75 earnings per share for the current 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 $0.2035 dividend. The ex-dividend date was Friday, May 31st. This represents a dividend yield of 1.4%. Infosys’s dividend payout ratio (DPR) is 38.16%.

Hedge Funds Weigh In On Infosys

Several hedge funds and other institutional investors have recently made changes to their positions in INFY. GAMMA Investing LLC purchased a new stake in Infosys during the 4th quarter valued at about $36,000. Hilltop National Bank boosted its stake 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 buying an additional 1,004 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in Infosys in the 4th quarter valued at $56,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Infosys by 126.7% in 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 last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Infosys by 113.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,130 shares of the technology company’s stock worth $58,000 after acquiring an additional 1,663 shares during the period. 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.