StockNews.com Downgrades Infosys (NYSE:INFY) to Hold

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

A number of other equities analysts have also commented on INFY. Investec lowered Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Finally, BMO Capital Markets lifted their target price on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.85.

Infosys Trading Down 0.7 %

Shares of INFY stock opened at $20.77 on Thursday. The business’s 50-day moving average price is $22.61 and its 200-day moving average price is $20.24. Infosys has a 12 month low of $16.04 and a 12 month high of $23.48. The firm has a market capitalization of $86.02 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 3.40 and a beta of 0.99.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 EPS 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 firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period last year, the firm posted $0.18 earnings per share. On average, sell-side analysts predict that Infosys will post 0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Infosys

A number of institutional investors have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. increased its position in shares of Infosys by 68.8% during the 3rd 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 during the last quarter. Canada Pension Plan Investment Board grew its position in Infosys by 37.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock worth $401,826,000 after acquiring an additional 5,862,144 shares during the last quarter. Millennium Management LLC grew its position in Infosys by 67.9% during the 2nd 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. Acadian Asset Management LLC grew its position in Infosys by 106.1% during the 1st quarter. Acadian Asset Management LLC now owns 4,839,764 shares of the technology company’s stock worth $86,764,000 after acquiring an additional 2,491,403 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Infosys by 46.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company’s stock worth $97,467,000 after acquiring an additional 1,648,650 shares during the last quarter. 10.89% of the stock is currently owned by institutional investors.

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.