Brokerages Set Infosys Limited (NYSE:INFY) Target Price at $20.85

Shares of Infosys Limited (NYSE:INFY) have received a consensus rating of “Hold” from the twelve ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $20.85.

A number of equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Investec lowered Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. BMO Capital Markets boosted their price objective on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Finally, Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th.

Infosys Trading Down 0.4 %

Shares of NYSE INFY opened at $22.12 on Friday. The stock has a market capitalization of $91.62 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 3.58 and a beta of 1.00. The stock’s fifty day simple moving average is $22.21 and its two-hundred day simple moving average is $21.06. Infosys has a 12-month low of $16.04 and a 12-month high of $23.48.

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

Infosys Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were paid a dividend of $0.2126 per share. This represents a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, October 29th. This is an increase from Infosys’s previous semi-annual dividend of $0.20. Infosys’s dividend payout ratio (DPR) is currently 53.85%.

Institutional Investors Weigh In On Infosys

Several large investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV raised its position in Infosys by 2.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock valued at $328,000 after purchasing an additional 505 shares during the last quarter. Canopy Partners LLC increased its stake in Infosys by 3.1% in the third quarter. Canopy Partners LLC now owns 17,129 shares of the technology company’s stock valued at $381,000 after purchasing an additional 522 shares during the period. Outlook Wealth Advisors LLC grew its stake in shares of Infosys by 3.0% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company’s stock valued at $399,000 after purchasing an additional 526 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Infosys by 22.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after acquiring an additional 541 shares during the period. Finally, D Orazio & Associates Inc. raised its holdings in Infosys by 4.1% during the second quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock worth $274,000 after purchasing an additional 584 shares in 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.