Infosys (NYSE:INFY) Downgraded by StockNews.com

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

A number of other brokerages have also recently commented on INFY. BMO Capital Markets decreased their target price on Infosys from $21.00 to $18.00 and set a market perform rating on the stock in a report on Friday, April 19th. Susquehanna decreased their price objective on Infosys from $15.00 to $14.00 and set a negative rating on the stock in a research note on Friday, April 19th. HSBC reiterated a hold rating and set a $20.10 price objective on shares of Infosys in a research note on Friday, April 19th. Finally, Macquarie upgraded shares of Infosys from an underperform rating to a neutral rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $19.27.

Infosys Stock Up 0.8 %

Infosys stock opened at $21.30 on Thursday. Infosys has a 52-week low of $16.04 and a 52-week high of $22.94. The company has a market cap of $88.18 billion, a P/E ratio of 28.03, a P/E/G ratio of 3.53 and a beta of 0.98. The business has a 50-day simple moving average of $19.69 and a two-hundred day simple moving average of $18.86.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. Infosys had a net margin of 17.18% and a return on equity of 32.01%. The company had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same period in the previous year, the business posted $0.17 earnings per share. Research analysts anticipate that Infosys will post 0.75 EPS for the current fiscal year.

Infosys Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 31st were issued a dividend of $0.2035 per share. This represents a yield of 1.4%. The ex-dividend date of this dividend was Friday, May 31st. Infosys’s dividend payout ratio (DPR) is currently 36.84%.

Institutional Trading of Infosys

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new stake in shares of Infosys during the 4th quarter worth approximately $36,000. Hilltop National Bank raised its stake in Infosys by 50.8% during the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after purchasing an additional 1,004 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Infosys by 126.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock valued at $56,000 after purchasing an additional 1,693 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Infosys in the 4th quarter worth $56,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Infosys by 113.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,130 shares of the technology company’s stock worth $58,000 after buying an additional 1,663 shares during the last quarter. 10.89% of the stock is currently owned by institutional investors.

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.