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 issued on Tuesday morning.

Other equities analysts have also issued reports about the stock. Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. BMO Capital Markets boosted their price objective on shares of Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Finally, Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.85.

Infosys Stock Performance

Infosys stock opened at $21.82 on Tuesday. The company has a market capitalization of $90.37 billion, a PE ratio of 27.97, a P/E/G ratio of 3.56 and a beta of 1.00. The company has a 50 day moving average price of $22.38 and a 200-day moving average price of $20.52. Infosys has a fifty-two week low of $16.04 and a fifty-two week high of $23.48.

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

Infosys Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mizuho Securities Co. Ltd. acquired a new position in shares of Infosys in the third quarter worth about $33,000. Hilltop National Bank grew its stake in shares of Infosys by 50.8% in the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after buying an additional 1,004 shares during the period. GAMMA Investing LLC grew its stake in shares of Infosys by 22.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after buying an additional 541 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Infosys by 126.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after acquiring an additional 1,693 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of Infosys in the 2nd quarter worth approximately $162,000. 10.89% of the stock is currently 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.