Infosys (NYSE:INFY) Upgraded by StockNews.com to Buy Rating

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

Several other brokerages have also issued reports on INFY. 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 target on shares of Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.85.

Infosys Stock Performance

Infosys stock opened at $21.53 on Tuesday. Infosys has a 1 year low of $16.04 and a 1 year high of $23.48. The company’s fifty day moving average price is $22.35 and its 200 day moving average price is $20.53. The stock has a market capitalization of $89.15 billion, a P/E ratio of 27.60, a P/E/G ratio of 3.56 and a beta of 1.00.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, hitting 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 analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the company posted $0.18 EPS. Sell-side analysts predict that Infosys will post 0.75 EPS for the current year.

Infosys Increases Dividend

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

Institutional Investors Weigh In On Infosys

Hedge funds and other institutional investors have recently bought and sold shares of the business. M&T Bank Corp increased its position in shares of Infosys by 247.3% in the third quarter. M&T Bank Corp now owns 94,907 shares of the technology company’s stock valued at $2,114,000 after buying an additional 67,580 shares in the last quarter. Barclays PLC increased its position in shares of Infosys by 11.8% in the third quarter. Barclays PLC now owns 2,523,605 shares of the technology company’s stock valued at $56,200,000 after buying an additional 266,902 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Infosys in the third quarter valued at $36,039,000. Nomura Asset Management Co. Ltd. increased its position in shares of Infosys by 22.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 670,907 shares of the technology company’s stock valued at $14,941,000 after buying an additional 123,083 shares in the last quarter. Finally, MML Investors Services LLC increased its position in Infosys by 27.6% during the 3rd quarter. MML Investors Services LLC now owns 19,685 shares of the technology company’s stock worth $438,000 after purchasing an additional 4,261 shares in the last quarter. Institutional investors and hedge funds own 10.89% of the company’s stock.

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.