Infosys (NYSE:INFY) Raised to Strong-Buy at Hsbc Global Res

Infosys (NYSE:INFY) was upgraded by investment analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other equities analysts also recently issued reports on the company. StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Investec downgraded Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. HSBC upgraded Infosys from a “hold” rating to a “buy” rating in a report on Monday. Finally, BMO Capital Markets raised their price target on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.85.

Infosys Trading Up 0.3 %

INFY opened at $23.23 on Monday. The stock has a fifty day simple moving average of $22.23 and a two-hundred day simple moving average of $21.22. The company has a market cap of $96.22 billion, a price-to-earnings ratio of 29.79, a price-to-earnings-growth ratio of 3.69 and a beta of 1.00. Infosys has a 12-month low of $16.04 and a 12-month high of $23.48.

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

Hedge Funds Weigh In On Infosys

A number of hedge funds have recently bought and sold shares of INFY. Robeco Institutional Asset Management B.V. grew its stake 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 period. Canada Pension Plan Investment Board grew its stake in shares of 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 valued at $401,826,000 after purchasing an additional 5,862,144 shares during the period. Fisher Asset Management LLC grew its stake in shares of Infosys by 9.7% during the 3rd quarter. Fisher Asset Management LLC now owns 14,415,018 shares of the technology company’s stock valued at $321,022,000 after purchasing an additional 1,271,890 shares during the period. Franklin Resources Inc. grew its stake in shares of Infosys by 2.9% during the 3rd quarter. Franklin Resources Inc. now owns 11,272,051 shares of the technology company’s stock valued at $263,315,000 after purchasing an additional 322,648 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Infosys by 67.9% during the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock valued at $141,532,000 after purchasing an additional 3,074,432 shares during the period. Hedge funds and other institutional investors own 16.20% of the company’s stock.

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.