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

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

A number of other equities research analysts also recently issued reports on INFY. BMO Capital Markets upped their price target on shares of Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.85.

Infosys Trading Down 1.4 %

Shares of NYSE INFY opened at $21.53 on Tuesday. The firm has a 50 day moving average of $22.35 and a 200 day moving average of $20.53. The firm has a market capitalization of $89.15 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00. Infosys has a 12-month low of $16.04 and a 12-month high of $23.48.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. Infosys had a net margin of 17.15% and a return on equity of 31.43%. During the same period in the prior year, the business posted $0.18 earnings per share. Sell-side analysts predict that Infosys will post 0.75 EPS for the current year.

Infosys Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were given a dividend of $0.2126 per share. This represents a dividend yield of 1.1%. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date was Tuesday, October 29th. Infosys’s dividend payout ratio is presently 53.85%.

Hedge Funds Weigh In On Infosys

Hedge funds and other institutional investors have recently modified their holdings of the stock. M&T Bank Corp grew its stake in shares of Infosys by 247.3% during the 3rd quarter. M&T Bank Corp now owns 94,907 shares of the technology company’s stock worth $2,114,000 after purchasing an additional 67,580 shares during the period. Barclays PLC grew its stake in shares of Infosys by 11.8% during the 3rd quarter. Barclays PLC now owns 2,523,605 shares of the technology company’s stock worth $56,200,000 after purchasing an additional 266,902 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Infosys during the 3rd quarter worth approximately $36,039,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Infosys by 22.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 670,907 shares of the technology company’s stock worth $14,941,000 after purchasing an additional 123,083 shares during the period. Finally, MML Investors Services LLC grew its stake in shares of Infosys by 27.6% during the 3rd quarter. MML Investors Services LLC now owns 19,685 shares of the technology company’s stock worth $438,000 after purchasing an additional 4,261 shares during the period. 10.89% of the stock is owned by hedge funds and other 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.