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

StockNews.com upgraded shares of Infosys (NYSE:INFY) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

INFY has been the subject of a number of other reports. Macquarie upgraded Infosys from an underperform rating to a neutral rating in a report on Friday, July 19th. Erste Group Bank raised Infosys from a hold rating to a buy rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $19.27.

Infosys Trading Down 0.3 %

Shares of INFY stock opened at $23.19 on Friday. The stock has a 50-day moving average of $21.91 and a 200-day moving average of $19.30. The stock has a market cap of $96.05 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 3.63 and a beta of 0.99. Infosys has a 1-year low of $16.04 and a 1-year high of $23.48.

Infosys (NYSE:INFY) last released 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 business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the firm posted $0.17 EPS. Sell-side analysts forecast that Infosys will post 0.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in INFY. International Assets Investment Management LLC acquired a new position in Infosys during the fourth quarter worth $878,000. Private Advisor Group LLC raised its holdings in shares of Infosys by 20.6% in the 4th quarter. Private Advisor Group LLC now owns 19,204 shares of the technology company’s stock worth $353,000 after acquiring an additional 3,280 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Infosys by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,360,152 shares of the technology company’s stock valued at $98,547,000 after acquiring an additional 209,675 shares in the last quarter. Principal Financial Group Inc. bought a new position in Infosys in the 4th quarter valued at about $6,205,000. Finally, Ieq Capital LLC boosted its stake in Infosys by 10.0% during the 4th quarter. Ieq Capital LLC now owns 12,130 shares of the technology company’s stock valued at $223,000 after purchasing an additional 1,103 shares during the last quarter. Institutional investors own 10.89% of the company’s stock.

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.