Infosys (NYSE:INFY) Rating Lowered to “Hold” at StockNews.com

Infosys (NYSE:INFY) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

A number of other research analysts have also recently issued reports on INFY. Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Investec cut Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, BMO Capital Markets lifted their price objective on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.85.

Infosys Stock Down 0.7 %

NYSE INFY opened at $20.77 on Thursday. Infosys has a twelve month low of $16.04 and a twelve month high of $23.48. The firm has a market capitalization of $86.02 billion, a PE ratio of 26.63, a P/E/G ratio of 3.40 and a beta of 0.99. The stock’s 50 day moving average is $22.61 and its 200 day moving average is $20.24.

Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period in the previous year, the company posted $0.18 earnings per share. On average, research analysts anticipate that Infosys will post 0.75 earnings per share for the current year.

Institutional Trading of Infosys

Several hedge funds have recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. grew its holdings in Infosys by 68.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock valued at $542,051,000 after purchasing an additional 9,923,744 shares during the period. Canada Pension Plan Investment Board grew its holdings in Infosys by 37.3% during the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock valued at $401,826,000 after purchasing an additional 5,862,144 shares during the period. Sustainable Growth Advisers LP grew its holdings in Infosys by 4.4% during the first quarter. Sustainable Growth Advisers LP now owns 16,591,434 shares of the technology company’s stock valued at $297,484,000 after purchasing an additional 699,641 shares during the period. Millennium Management LLC grew its holdings in Infosys by 67.9% during the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock valued at $141,532,000 after purchasing an additional 3,074,432 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Infosys by 10.0% during the second quarter. Bank of New York Mellon Corp now owns 6,248,026 shares of the technology company’s stock valued at $116,338,000 after purchasing an additional 570,435 shares during the period. 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.