Infosys (NYSE:INFY) Upgraded at StockNews.com

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

INFY has been the topic of several other research reports. Macquarie raised Infosys from an underperform rating to a neutral rating in a research report on Friday, July 19th. Erste Group Bank upgraded Infosys from a hold rating to a buy rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $19.27.

Infosys Price Performance

INFY opened at $23.19 on Friday. Infosys has a fifty-two week low of $16.04 and a fifty-two week high of $23.48. The firm has a market capitalization of $96.05 billion, a P/E ratio of 30.51, a PEG ratio of 3.63 and a beta of 0.99. The company’s 50-day moving average is $21.91 and its 200 day moving average is $19.30.

Infosys (NYSE:INFY) last posted its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 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 firm had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter last year, the business posted $0.17 EPS. On average, equities research analysts expect that Infosys will post 0.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in Infosys by 33.0% during the first quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock worth $43,000 after purchasing an additional 593 shares during the period. Hilltop National Bank lifted its stake in shares of Infosys by 50.8% during the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after buying an additional 1,004 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Infosys by 126.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after buying an additional 1,693 shares during the period. Jones Financial Companies Lllp purchased a new position in Infosys in the 4th quarter valued at approximately $56,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Infosys by 113.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,130 shares of the technology company’s stock valued at $58,000 after acquiring an additional 1,663 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.