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

StockNews.com upgraded shares of Infosys (NYSE:INFY) from a hold rating to a buy rating in a report released on Tuesday.

Several other equities research analysts have also recently commented on the company. Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. BMO Capital Markets boosted 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, October 18th. Finally, Investec cut shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.85.

Infosys Stock Performance

NYSE:INFY opened at $22.01 on Tuesday. The company has a market capitalization of $91.16 billion, a PE ratio of 28.22, a P/E/G ratio of 3.56 and a beta of 1.00. Infosys has a fifty-two week low of $16.04 and a fifty-two week high of $23.48. The company has a 50 day simple moving average of $22.42 and a two-hundred day simple moving average of $20.47.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a net margin of 17.15% and a return on equity of 31.43%. During the same quarter last year, the firm earned $0.18 earnings per share. Research analysts predict that Infosys will post 0.75 EPS for the current year.

Infosys Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were issued a $0.2126 dividend. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, October 29th. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. Infosys’s dividend payout ratio is currently 53.85%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of INFY. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Infosys in the 1st quarter worth $212,000. SG Americas Securities LLC bought a new stake in Infosys in the 1st quarter worth about $435,000. US Bancorp DE increased its stake in Infosys by 36.5% in the 1st quarter. US Bancorp DE now owns 188,338 shares of the technology company’s stock valued at $3,377,000 after buying an additional 50,399 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Infosys by 10.7% during the 1st quarter. Avantax Advisory Services Inc. now owns 90,946 shares of the technology company’s stock worth $1,631,000 after buying an additional 8,827 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in shares of Infosys by 14.2% in the first quarter. Bleakley Financial Group LLC now owns 26,440 shares of the technology company’s stock valued at $474,000 after acquiring an additional 3,284 shares in the last quarter. Hedge funds and other institutional investors 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.