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

Infosys (NYSE:INFY) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Other analysts have also issued reports about the stock. BMO Capital Markets boosted their target price on shares of Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Investec cut Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Infosys currently has an average rating of “Hold” and an average target price of $20.85.

Infosys Trading Down 0.1 %

NYSE INFY opened at $21.96 on Wednesday. The stock has a market cap of $90.95 billion, a P/E ratio of 28.15, a P/E/G ratio of 3.51 and a beta of 1.00. Infosys has a 12 month low of $16.04 and a 12 month high of $23.48. The stock’s fifty day moving average price is $22.25 and its 200-day moving average price is $20.70.

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

Institutional Investors Weigh In On Infosys

Hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. raised its position in shares of Infosys by 1,888.9% during the 1st quarter. Bessemer Group Inc. now owns 321,605 shares of the technology company’s stock valued at $5,766,000 after buying an additional 305,435 shares in the last quarter. Earnest Partners LLC raised its position in Infosys by 23.6% during the first quarter. Earnest Partners LLC now owns 122,470 shares of the technology company’s stock valued at $2,196,000 after purchasing an additional 23,353 shares during the period. Tidal Investments LLC bought a new stake in shares of Infosys in the 1st quarter valued at approximately $371,000. LBP AM SA boosted its holdings in shares of Infosys by 10.1% in the 1st quarter. LBP AM SA now owns 219,302 shares of the technology company’s stock worth $3,932,000 after purchasing an additional 20,100 shares during the period. Finally, Advisory Resource Group raised its holdings in Infosys by 19.8% during the 1st quarter. Advisory Resource Group now owns 48,565 shares of the technology company’s stock valued at $871,000 after buying an additional 8,030 shares during the period. Hedge funds and other 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.