Infosys (NYSE:INFY) Stock Rating Lowered by Investec

Infosys (NYSE:INFY) was downgraded by Investec from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, FinViz reports.

Several other analysts also recently commented on the company. Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $19.27.

Infosys Trading Down 0.4 %

Infosys stock opened at $22.31 on Thursday. The firm has a market capitalization of $92.36 billion, a P/E ratio of 29.36, a PEG ratio of 3.59 and a beta of 0.99. The business has a 50-day moving average of $22.41 and a 200-day moving average of $19.58. Infosys has a 1 year low of $16.04 and a 1 year high of $23.48.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, July 18th. The technology company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The firm had revenue of $4.71 billion during the quarter, compared to the consensus estimate 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 prior year, the firm earned $0.17 earnings per share. Research analysts anticipate that Infosys will post 0.75 EPS for the current fiscal year.

Institutional Trading of Infosys

A number of hedge funds and other institutional investors have recently made changes to their positions in INFY. Canada Pension Plan Investment Board boosted its holdings in Infosys by 37.3% during 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 purchasing an additional 5,862,144 shares during the last quarter. FIL Ltd grew its holdings in shares of Infosys by 5.9% in the 4th quarter. FIL Ltd now owns 18,459,935 shares of the technology company’s stock valued at $339,294,000 after acquiring an additional 1,031,371 shares in the last quarter. Sustainable Growth Advisers LP increased its position in shares of Infosys by 4.4% in 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 last quarter. Millennium Management LLC raised its holdings in 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 in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Infosys by 10.0% during the second 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 purchasing an additional 570,435 shares during the last quarter. 10.89% of the stock is currently 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.