Infosys Limited (NYSE:INFY) Receives $19.27 Average PT from Analysts

Infosys Limited (NYSE:INFY) has received an average recommendation of “Hold” from the eleven research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $19.27.

Several equities analysts have issued reports on INFY shares. Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th.

Institutional Investors Weigh In On Infosys

A number of institutional investors and hedge funds have recently modified their holdings of INFY. Canada Pension Plan Investment Board lifted its holdings in shares of Infosys by 37.3% during the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock worth $401,826,000 after purchasing an additional 5,862,144 shares during the period. Millennium Management LLC lifted its holdings in shares of Infosys by 67.9% during the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock worth $141,532,000 after purchasing an additional 3,074,432 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Infosys by 106.1% during the first 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 during the period. Wellington Management Group LLP lifted its holdings in shares of Infosys by 539.8% during the fourth quarter. Wellington Management Group LLP now owns 2,010,636 shares of the technology company’s stock worth $36,955,000 after purchasing an additional 1,696,378 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in Infosys by 46.0% in 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 acquiring an additional 1,648,650 shares during the period. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Price Performance

INFY opened at $23.20 on Friday. The business’s 50-day moving average is $20.88 and its two-hundred day moving average is $19.05. Infosys has a 1 year low of $16.04 and a 1 year high of $23.48. The firm has a market capitalization of $96.03 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 3.53 and a beta of 0.98.

Infosys (NYSE:INFY) last posted its earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. Infosys had a return on equity of 32.01% and a net margin of 17.18%. The company had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the previous year, the firm earned $0.17 earnings per share. As a group, sell-side analysts expect that Infosys will post 0.75 EPS for the current year.

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.