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 note published on Tuesday.

Several other research firms also recently commented on INFY. BMO Capital Markets lifted their price objective on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Investec downgraded Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Finally, Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.85.

Infosys Stock Performance

Shares of INFY stock opened at $21.82 on Tuesday. The business’s fifty day moving average is $22.38 and its 200 day moving average is $20.52. Infosys has a 52-week low of $16.04 and a 52-week high of $23.48. The company has a market capitalization of $90.37 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00.

Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter last year, the business posted $0.18 earnings per share. On average, sell-side analysts forecast that Infosys will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

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

Institutional Investors Weigh In On Infosys

A number of institutional investors have recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. grew its position in shares of Infosys by 68.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock valued at $542,051,000 after purchasing an additional 9,923,744 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Infosys by 37.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock valued at $401,826,000 after acquiring an additional 5,862,144 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Infosys by 9.7% in the 3rd quarter. Fisher Asset Management LLC now owns 14,415,018 shares of the technology company’s stock valued at $321,022,000 after acquiring an additional 1,271,890 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Infosys by 67.9% in the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock valued at $141,532,000 after acquiring an additional 3,074,432 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Infosys by 10.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,248,026 shares of the technology company’s stock valued at $116,338,000 after acquiring an additional 570,435 shares during the last quarter. Hedge funds and other 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.