Infosys (NYSE:INFY) Raised to Buy at Erste Group Bank

Infosys (NYSE:INFY) was upgraded by investment analysts at Erste Group Bank from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Benzinga reports.

INFY has been the subject of a number of other research reports. Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.27.

Infosys Trading Up 1.4 %

NYSE INFY opened at $23.25 on Wednesday. The stock has a market cap of $96.25 billion, a P/E ratio of 30.59, a PEG ratio of 3.57 and a beta of 0.99. The company’s fifty day simple moving average is $21.84 and its 200-day simple moving average is $19.28. Infosys has a 52 week low of $16.04 and a 52 week high of $23.48.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The firm had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.67 billion. Infosys had a net margin of 17.18% and a return on equity of 32.01%. During the same quarter in the previous year, the business posted $0.17 EPS. On average, research analysts expect that Infosys will post 0.75 EPS for the current fiscal year.

Institutional Trading of Infosys

A number of institutional investors and hedge funds have recently modified their holdings of the business. First Trust Advisors LP raised its position in shares of Infosys by 3.6% during the 4th quarter. First Trust Advisors LP now owns 25,209,033 shares of the technology company’s stock worth $463,342,000 after purchasing an additional 884,833 shares during the period. Canada Pension Plan Investment Board increased its position in Infosys by 37.3% in the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock worth $401,826,000 after buying an additional 5,862,144 shares during the period. FIL Ltd lifted its stake in Infosys by 5.9% in the fourth quarter. FIL Ltd now owns 18,459,935 shares of the technology company’s stock valued at $339,294,000 after buying an additional 1,031,371 shares during the last quarter. Sustainable Growth Advisers LP boosted its holdings in shares of Infosys by 4.4% during the first quarter. Sustainable Growth Advisers LP now owns 16,591,434 shares of the technology company’s stock valued at $297,484,000 after acquiring an additional 699,641 shares during the period. Finally, Millennium Management LLC grew its position in shares of Infosys by 67.9% during the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock worth $141,532,000 after acquiring an additional 3,074,432 shares during the last quarter. 10.89% of the stock is owned by institutional investors and hedge funds.

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.