Analysts Set Infosys Limited (NYSE:INFY) Target Price at $19.27

Infosys Limited (NYSE:INFY) has received a consensus rating of “Hold” from the twelve research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $19.27.

A number of analysts have weighed in on the stock. StockNews.com upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. BMO Capital Markets cut their price target on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a report on Friday, April 19th. Bank of America upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a report on Tuesday, April 9th. Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Finally, HSBC reiterated a “hold” rating and set a $20.10 price target on shares of Infosys in a report on Friday, April 19th.

Infosys Price Performance

Shares of Infosys stock opened at $21.77 on Monday. Infosys has a fifty-two week low of $16.04 and a fifty-two week high of $22.94. The firm has a market capitalization of $90.17 billion, a P/E ratio of 28.64, a P/E/G ratio of 3.53 and a beta of 0.98. The company’s 50 day moving average price is $19.29 and its two-hundred day moving average price is $18.82.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share for the quarter, meeting 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 last year, the business posted $0.17 earnings per share. On average, analysts expect that Infosys will post 0.75 earnings per share for the current year.

Infosys Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 31st were paid a $0.2035 dividend. This represents a yield of 1.4%. The ex-dividend date of this dividend was Friday, May 31st. Infosys’s dividend payout ratio (DPR) is currently 38.16%.

Institutional Investors Weigh In On Infosys

A number of institutional investors have recently added to or reduced their stakes in INFY. Acadian Asset Management LLC grew its position in Infosys by 106.1% in the 1st quarter. Acadian Asset Management LLC now owns 4,839,764 shares of the technology company’s stock worth $86,764,000 after purchasing an additional 2,491,403 shares in the last quarter. Wellington Management Group LLP boosted its stake in Infosys by 539.8% in the fourth quarter. Wellington Management Group LLP now owns 2,010,636 shares of the technology company’s stock valued at $36,955,000 after acquiring an additional 1,696,378 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Infosys by 76.1% in the first quarter. Daiwa Securities Group Inc. now owns 3,585,850 shares of the technology company’s stock valued at $64,294,000 after acquiring an additional 1,549,650 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Infosys by 49.3% in the first quarter. BNP Paribas Financial Markets now owns 3,741,065 shares of the technology company’s stock valued at $67,077,000 after acquiring an additional 1,235,140 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Infosys by 20.7% in the fourth quarter. Franklin Resources Inc. now owns 6,719,669 shares of the technology company’s stock valued at $123,508,000 after acquiring an additional 1,150,885 shares during the last quarter. 10.89% of the stock is owned by 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.