Infosys (NYSE:INFY) Downgraded by StockNews.com

Infosys (NYSE:INFY) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.

A number of other brokerages have also weighed in on INFY. Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Finally, BMO Capital Markets increased their price objective on shares of Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.85.

Infosys Trading Down 1.4 %

Shares of NYSE:INFY traded down $0.31 during midday trading on Monday, reaching $22.20. 10,409,892 shares of the company were exchanged, compared to its average volume of 9,365,223. The business’s fifty day moving average is $22.69 and its two-hundred day moving average is $20.03. Infosys has a one year low of $16.04 and a one year high of $23.48. The stock has a market cap of $91.91 billion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 3.68 and a beta of 0.99.

Infosys (NYSE:INFY) last issued its 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. Infosys had a net margin of 17.18% and a return on equity of 32.01%. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the prior year, the business earned $0.18 earnings per share. As a group, sell-side analysts expect that Infosys will post 0.75 EPS for the current year.

Institutional Investors Weigh In On Infosys

Several hedge funds and other institutional investors have recently made changes to their positions in INFY. Wellington Management Group LLP raised its stake in shares of Infosys by 539.8% in the fourth quarter. Wellington Management Group LLP now owns 2,010,636 shares of the technology company’s stock valued at $36,955,000 after acquiring an additional 1,696,378 shares during the period. GAMMA Investing LLC increased its stake in Infosys by 33.0% in the 1st quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock worth $43,000 after buying an additional 593 shares during the period. DGS Capital Management LLC increased its stake in Infosys by 13.4% in the 1st quarter. DGS Capital Management LLC now owns 51,024 shares of the technology company’s stock worth $915,000 after buying an additional 6,048 shares during the period. Janiczek Wealth Management LLC increased its stake in Infosys by 10.0% in the 1st quarter. Janiczek Wealth Management LLC now owns 22,438 shares of the technology company’s stock worth $402,000 after buying an additional 2,039 shares during the period. Finally, Artemis Investment Management LLP increased its stake in Infosys by 20.8% in the 1st quarter. Artemis Investment Management LLP now owns 84,193 shares of the technology company’s stock worth $1,510,000 after buying an additional 14,500 shares during the period. 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.