Infosys (NYSE:INFY) Lowered to “Hold” at StockNews.com

StockNews.com cut shares of Infosys (NYSE:INFY) from a buy rating to a hold rating in a research report report published on Saturday morning.

Other equities research analysts have also issued research reports about the company. Macquarie raised Infosys from an underperform rating to a neutral rating in a research note on Friday, July 19th. Erste Group Bank upgraded Infosys from a hold rating to a buy rating in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $19.27.

Infosys Trading Up 0.7 %

Shares of NYSE INFY opened at $22.85 on Friday. The business has a 50-day moving average of $22.23 and a 200-day moving average of $19.40. The firm has a market capitalization of $94.60 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 3.63 and a beta of 0.99. Infosys has a 12 month low of $16.04 and a 12 month high of $23.48.

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

Hedge Funds Weigh In On Infosys

A number of large investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in Infosys by 33.0% during the 1st quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock valued at $43,000 after purchasing an additional 593 shares during the period. Hilltop National Bank raised its stake in Infosys by 50.8% in the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after buying an additional 1,004 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in Infosys in the fourth quarter worth about $56,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in Infosys by 126.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after buying an additional 1,693 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Infosys by 113.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,130 shares of the technology company’s stock worth $58,000 after purchasing an additional 1,663 shares in the last quarter. 10.89% of the stock is owned by hedge funds and other institutional investors.

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.