Infosys (NYSE:INFY) Stock Rating Upgraded by HSBC

Infosys (NYSE:INFY) was upgraded by equities researchers at HSBC from a “hold” rating to a “buy” rating in a report issued on Monday, MarketBeat.com reports.

Other research analysts have also issued reports about the company. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Investec lowered Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Finally, BMO Capital Markets increased their price objective on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.85.

Infosys Price Performance

NYSE INFY opened at $23.23 on Monday. The firm has a market cap of $96.22 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 3.69 and a beta of 1.00. Infosys has a one year low of $16.04 and a one year high of $23.48. The stock’s 50 day simple moving average is $22.23 and its 200 day simple moving average is $21.22.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. Infosys had a return on equity of 31.43% and a net margin of 17.15%. During the same period last year, the company earned $0.18 EPS. As a group, equities analysts expect that Infosys will post 0.75 earnings per share for the current year.

Institutional Trading of Infosys

Institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in shares of Infosys in the third quarter valued at about $16,560,000. Baader Bank Aktiengesellschaft bought a new stake in shares of Infosys in the second quarter valued at about $529,000. BNP Paribas Financial Markets lifted its holdings in shares of Infosys by 5.1% in the third quarter. BNP Paribas Financial Markets now owns 6,072,537 shares of the technology company’s stock valued at $135,235,000 after purchasing an additional 297,183 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Infosys by 186.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,186,685 shares of the technology company’s stock valued at $48,697,000 after purchasing an additional 1,422,814 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in shares of Infosys by 52.5% in the second quarter. Panagora Asset Management Inc. now owns 1,010,512 shares of the technology company’s stock valued at $18,816,000 after purchasing an additional 348,018 shares in the last quarter. 16.20% of the stock is currently owned by institutional investors.

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.