Infosys (NYSE:INFY) Downgraded by StockNews.com

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

A number of other research firms also recently commented on INFY. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. BMO Capital Markets raised their target price on shares of Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday. Finally, Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Infosys currently has an average rating of “Hold” and a consensus target price of $20.85.

Infosys Stock Down 1.4 %

INFY stock traded down $0.31 during trading on Monday, hitting $22.20. The company had a trading volume of 10,409,892 shares, compared to its average volume of 9,365,223. The firm has a market capitalization of $91.91 billion, a P/E ratio of 29.21, a PEG ratio of 3.68 and a beta of 0.99. Infosys has a 52-week low of $16.04 and a 52-week high of $23.48. The company has a 50 day simple moving average of $22.69 and a 200-day simple moving average of $20.03.

Infosys (NYSE:INFY) last posted its earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a net margin of 17.18% and a return on equity of 32.01%. During the same quarter last year, the firm posted $0.18 EPS. Sell-side analysts forecast that Infosys will post 0.75 earnings per share for the current year.

Institutional Trading of Infosys

A number of institutional investors have recently bought and sold shares of INFY. Canada Pension Plan Investment Board boosted its stake in Infosys by 37.3% in the 2nd 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 in the last quarter. Millennium Management LLC boosted its stake in Infosys by 67.9% in the 2nd 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 in the last quarter. Acadian Asset Management LLC boosted its stake in Infosys by 106.1% in the 1st 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 in the last quarter. Wellington Management Group LLP boosted its stake in Infosys by 539.8% in the 4th 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 in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Infosys by 46.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company’s stock worth $97,467,000 after purchasing an additional 1,648,650 shares in the last quarter. 10.89% of the stock is currently 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.