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

StockNews.com upgraded shares of Infosys (NYSE:INFY) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Other equities research analysts also recently issued research reports about the company. Bank of America raised Infosys from a neutral rating to a buy rating in a report on Tuesday, April 9th. Susquehanna reduced their price objective on shares of Infosys from $15.00 to $14.00 and set a negative rating for the company in a research note on Friday, April 19th. BMO Capital Markets lowered their target price on shares of Infosys from $21.00 to $18.00 and set a market perform rating on the stock in a research report on Friday, April 19th. Macquarie upgraded shares of Infosys from an underperform rating to a neutral rating in a research report on Friday, July 19th. Finally, HSBC reissued a hold rating and set a $20.10 price target on shares of Infosys in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Infosys currently has a consensus rating of Hold and an average price target of $19.27.

Infosys Stock Up 3.5 %

NYSE INFY opened at $22.79 on Friday. The stock has a market capitalization of $94.35 billion, a P/E ratio of 29.99, a P/E/G ratio of 3.61 and a beta of 0.98. Infosys has a 52-week low of $16.04 and a 52-week high of $22.94. The firm has a 50-day moving average price of $18.79 and a 200 day moving average price of $18.72.

Infosys (NYSE:INFY) last released its earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Infosys had a return on equity of 32.01% and a net margin of 17.18%. During the same quarter in the previous year, the firm posted $0.17 EPS. On average, equities research analysts expect that Infosys will post 0.75 earnings per share for the current fiscal year.

Infosys Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 31st were issued a dividend of $0.2035 per share. The ex-dividend date was Friday, May 31st. This represents a dividend yield of 1.4%. Infosys’s payout ratio is 38.16%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INFY. Dimensional Fund Advisors LP raised its holdings in shares of Infosys by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,360,152 shares of the technology company’s stock worth $98,547,000 after purchasing an additional 209,675 shares during the period. BNP Paribas purchased a new position in Infosys in the first quarter valued at approximately $1,169,000. Vanguard Group Inc. raised its holdings in Infosys by 2.3% in the third quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock valued at $139,327,000 after buying an additional 180,888 shares during the period. Alberta Investment Management Corp lifted its position in Infosys by 118.6% during the fourth quarter. Alberta Investment Management Corp now owns 1,328,956 shares of the technology company’s stock valued at $24,426,000 after buying an additional 720,885 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Infosys during the fourth quarter worth approximately $878,000. 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.