StockNews.com Upgrades Infosys (NYSE:INFY) to Buy

Infosys (NYSE:INFY) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

INFY has been the subject of several other reports. Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Investec cut Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, BMO Capital Markets boosted their target price on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Infosys currently has an average rating of “Hold” and an average price target of $20.85.

Infosys Stock Performance

Shares of NYSE INFY opened at $22.03 on Tuesday. The firm has a market cap of $91.24 billion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 3.51 and a beta of 1.00. The business’s 50-day simple moving average is $22.44 and its 200-day simple moving average is $20.44. Infosys has a 52 week low of $16.04 and a 52 week high of $23.48.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. Infosys had a return on equity of 31.43% and a net margin of 17.15%. During the same quarter last year, the firm earned $0.18 EPS. As a group, equities research analysts forecast that Infosys will post 0.75 earnings per share for the current year.

Hedge Funds Weigh In On Infosys

Several hedge funds have recently modified their holdings of INFY. Mizuho Securities Co. Ltd. bought a new stake in Infosys in the 3rd quarter valued at about $33,000. GAMMA Investing LLC grew its holdings in shares of Infosys by 22.6% during the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after purchasing an additional 541 shares in the last quarter. Hilltop National Bank boosted 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. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Infosys by 126.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock valued at $56,000 after purchasing an additional 1,693 shares during the period. Finally, Ridgewood Investments LLC purchased a new stake in shares of Infosys during the second quarter valued at approximately $162,000. Institutional investors own 10.89% 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.