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

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

Other analysts have also issued research reports about the company. Bank of America upgraded Infosys from a neutral rating to a buy rating in a research note on Tuesday, April 9th. BMO Capital Markets decreased their price objective on shares of Infosys from $21.00 to $18.00 and set a market perform rating for the company in a report on Friday, April 19th. Macquarie raised shares of Infosys from an underperform rating to a neutral rating in a research report on Friday, July 19th. Susquehanna lowered their price target on Infosys from $15.00 to $14.00 and set a negative rating for the company in a report on Friday, April 19th. Finally, HSBC reiterated a hold rating and issued a $20.10 target price on shares of Infosys in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Infosys has an average rating of Hold and a consensus price target of $19.27.

Infosys Stock Up 3.5 %

NYSE INFY opened at $22.79 on Friday. Infosys has a 52 week low of $16.04 and a 52 week high of $22.94. The company has a fifty day moving average of $18.79 and a two-hundred day moving average of $18.72. The firm has a market capitalization of $94.35 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 3.61 and a beta of 0.98.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. Infosys had a net margin of 17.18% and a return on equity of 32.01%. The business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter last year, the firm earned $0.17 earnings per share. Equities research analysts anticipate that Infosys will post 0.75 EPS for the current year.

Infosys Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 31st were paid a dividend of $0.2035 per share. The ex-dividend date was Friday, May 31st. This represents a yield of 1.4%. Infosys’s dividend payout ratio (DPR) is 38.16%.

Institutional Investors Weigh In On Infosys

A number of large investors have recently modified their holdings of the business. Acadian Asset Management LLC raised its holdings in shares of Infosys by 106.1% in the first quarter. Acadian Asset Management LLC now owns 4,839,764 shares of the technology company’s stock worth $86,764,000 after buying an additional 2,491,403 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Infosys by 539.8% during the 4th quarter. Wellington Management Group LLP now owns 2,010,636 shares of the technology company’s stock valued at $36,955,000 after purchasing an additional 1,696,378 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Infosys by 76.1% in the first quarter. Daiwa Securities Group Inc. now owns 3,585,850 shares of the technology company’s stock worth $64,294,000 after acquiring an additional 1,549,650 shares during the period. BNP Paribas Financial Markets boosted its position in Infosys by 49.3% during the first quarter. BNP Paribas Financial Markets now owns 3,741,065 shares of the technology company’s stock worth $67,077,000 after purchasing an additional 1,235,140 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Infosys by 20.7% in the fourth quarter. Franklin Resources Inc. now owns 6,719,669 shares of the technology company’s stock valued at $123,508,000 after buying an additional 1,150,885 shares in the last quarter. 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.