Infosys (NYSE:INFY) Rating Increased to Buy at StockNews.com

Infosys (NYSE:INFY) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

A number of other research analysts have also recently issued reports on the stock. Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Infosys currently has a consensus rating of “Moderate Buy” and an average target price of $19.27.

Infosys Price Performance

Infosys stock opened at $22.39 on Monday. The business has a 50 day simple moving average of $22.40 and a 200 day simple moving average of $19.56. The company has a market capitalization of $92.67 billion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Infosys has a one year low of $16.04 and a one year high of $23.48.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. The company had revenue of $4.71 billion during 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 period last year, the business earned $0.17 earnings per share. Equities analysts anticipate that Infosys will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Infosys

Several hedge funds and other institutional investors have recently made changes to their positions in INFY. GAMMA Investing LLC raised its stake in shares of Infosys by 33.0% during the first quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock worth $43,000 after buying an additional 593 shares during the last quarter. Hilltop National Bank lifted 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 purchasing an additional 1,004 shares during the period. Jones Financial Companies Lllp bought a new position in shares of Infosys in the 4th quarter worth $56,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Infosys by 126.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after purchasing an additional 1,693 shares during the period. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Infosys during the fourth quarter worth $123,000. 10.89% of the stock is owned by institutional investors and hedge funds.

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.