Infosys (NYSE:INFY) Upgraded at StockNews.com

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

A number of other brokerages also recently weighed in on INFY. Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Hsbc Global Res raised Infosys from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. HSBC upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Finally, BMO Capital Markets increased their target price on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.85.

Infosys Stock Up 0.6 %

Shares of NYSE INFY opened at $23.40 on Thursday. The stock’s 50 day moving average price is $22.30 and its two-hundred day moving average price is $21.36. Infosys has a 52-week low of $16.04 and a 52-week high of $23.63. The stock has a market capitalization of $96.92 billion, a P/E ratio of 30.00, a PEG ratio of 3.77 and a beta of 1.00.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The business 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 period in the prior year, the company posted $0.18 EPS. On average, analysts anticipate that Infosys will post 0.75 EPS for the current year.

Infosys Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were paid a dividend of $0.2126 per share. This is a boost from Infosys’s previous semi-annual dividend of $0.20. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, October 29th. Infosys’s payout ratio is currently 53.85%.

Institutional Trading of Infosys

A number of institutional investors have recently made changes to their positions in INFY. Robeco Institutional Asset Management B.V. raised its holdings in Infosys by 68.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock worth $542,051,000 after purchasing an additional 9,923,744 shares in the last quarter. Canada Pension Plan Investment Board increased its position 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. Victory Capital Management Inc. raised its stake in shares of Infosys by 6,071.1% in the 3rd quarter. Victory Capital Management Inc. now owns 4,739,830 shares of the technology company’s stock worth $105,556,000 after buying an additional 4,663,023 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Infosys by 67.9% in the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock valued at $141,532,000 after buying an additional 3,074,432 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in Infosys by 46.0% during the second quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company’s stock valued at $97,467,000 after buying an additional 1,648,650 shares in the last quarter. 16.20% of the stock is owned by institutional investors and hedge funds.

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.