Infosys (NYSE:INFY) Downgraded by Investec

Infosys (NYSE:INFY) was downgraded by analysts at Investec from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, MarketBeat reports.

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

Infosys Price Performance

Shares of Infosys stock opened at $22.31 on Thursday. The stock has a market capitalization of $92.36 billion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth 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 12 month low of $16.04 and a 12 month high of $23.48.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $4.71 billion during the quarter, compared to analysts’ expectations 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 previous year, the business posted $0.17 earnings per share. Equities research analysts anticipate that Infosys will post 0.75 earnings per share for the current year.

Institutional Trading of Infosys

Several institutional investors and hedge funds have recently made changes to their positions in INFY. Mercer Global Advisors Inc. ADV increased its position in Infosys by 2.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock worth $328,000 after buying an additional 505 shares during the period. GAMMA Investing LLC increased its stake in Infosys by 22.6% in the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after purchasing an additional 541 shares during the period. D Orazio & Associates Inc. raised its holdings in shares of Infosys by 4.1% in the second quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock valued at $274,000 after buying an additional 584 shares during the last quarter. Somerset Trust Co boosted its stake in shares of Infosys by 4.2% during the second quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock worth $282,000 after buying an additional 611 shares during the period. Finally, Seed Wealth Management Inc. grew its holdings in shares of Infosys by 5.6% during the second quarter. Seed Wealth Management Inc. now owns 18,260 shares of the technology company’s stock worth $340,000 after buying an additional 970 shares during the last quarter. 10.89% of the stock is owned by hedge funds and other 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.