Infosys (NYSE:INFY) Stock Rating Upgraded by StockNews.com

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

Several other equities research analysts also recently weighed in on INFY. Wedbush reiterated an outperform rating and issued a $22.00 price target on shares of Infosys in a report on Wednesday, March 13th. HSBC reiterated a hold rating and set a $20.10 price objective on shares of Infosys in a report on Friday, April 19th. Guggenheim began coverage on shares of Infosys in a research note on Tuesday, March 19th. They issued a neutral rating and a $20.00 target price on the stock. 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 note on Friday, April 19th. Finally, Bank of America raised Infosys from a neutral rating to a buy rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Infosys presently has a consensus rating of Moderate Buy and an average price target of $19.27.

Infosys Price Performance

NYSE:INFY opened at $20.40 on Tuesday. The firm has a market capitalization of $84.45 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 3.57 and a beta of 0.98. The business has a 50 day simple moving average of $17.88 and a 200-day simple moving average of $18.49. Infosys has a 1 year low of $15.33 and a 1 year high of $20.74.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, beating 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 business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the prior year, the firm posted $0.18 earnings per share. As a group, analysts expect that Infosys will post 0.75 earnings per share for the current fiscal year.

Infosys Cuts Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC acquired a new stake in Infosys during the 4th quarter worth about $36,000. Planned Solutions Inc. purchased a new position in Infosys during the fourth quarter valued at approximately $50,000. Hilltop National Bank lifted its holdings in Infosys by 50.8% in the second 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 acquired a new stake in shares of Infosys during the 4th quarter worth approximately $56,000. Finally, EverSource Wealth Advisors LLC increased 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 valued at $58,000 after purchasing an additional 1,663 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.