Infosys (NYSE:INFY) Raised to “Buy” at StockNews.com

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

INFY has been the subject of a number of other reports. BMO Capital Markets decreased their price objective on Infosys from $21.00 to $18.00 and set a market perform rating for the company in a report 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. HSBC restated a hold rating and issued a $20.10 target price on shares of Infosys in a research note on Friday, April 19th. Finally, Susquehanna cut their target price on Infosys from $15.00 to $14.00 and set a negative rating on the stock 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 issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $19.27.

Infosys Stock Performance

Shares of INFY opened at $21.68 on Friday. The stock has a 50 day moving average price of $18.29 and a two-hundred day moving average price of $18.58. The firm has a market capitalization of $89.75 billion, a P/E ratio of 28.53, a P/E/G ratio of 4.01 and a beta of 0.98. Infosys has a 52 week low of $15.33 and a 52 week high of $22.61.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The firm had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.67 billion. Infosys had a return on equity of 32.00% and a net margin of 17.18%. During the same period in the previous year, the company posted $0.17 EPS. On average, equities analysts forecast that Infosys will post 0.75 earnings per share for the current year.

Infosys Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 31st were paid a $0.2035 dividend. 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

Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in Infosys by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,360,152 shares of the technology company’s stock valued at $98,547,000 after purchasing an additional 209,675 shares during the last quarter. BNP Paribas purchased a new position in Infosys in the first quarter valued at approximately $1,169,000. Vanguard Group Inc. lifted its position in shares of Infosys by 2.3% during the third quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock worth $139,327,000 after acquiring an additional 180,888 shares in the last quarter. Alberta Investment Management Corp lifted its position in shares of Infosys by 118.6% during the fourth quarter. Alberta Investment Management Corp now owns 1,328,956 shares of the technology company’s stock worth $24,426,000 after acquiring an additional 720,885 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Infosys during the fourth quarter worth $878,000. Hedge funds and other 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.