Infosys (NYSE:INFY) Lowered to “Sell” at Investec

Infosys (NYSE:INFY) was downgraded by analysts at Investec from a “hold” rating to a “sell” rating in a research note issued on Thursday, FinViz reports.

Other equities research analysts also recently issued research reports about the stock. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Infosys currently has an average rating of “Hold” and an average target price of $19.27.

Infosys Price Performance

Shares of Infosys stock opened at $22.31 on Thursday. The company’s fifty day moving average price is $22.41 and its two-hundred day moving average price is $19.58. The firm has a market capitalization of $92.36 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Infosys has a 52-week low of $16.04 and a 52-week high of $23.48.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.67 billion. Infosys had a net margin of 17.18% and a return on equity of 32.01%. During the same quarter in the prior year, the business posted $0.17 earnings per share. Analysts predict that Infosys will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Infosys

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in Infosys by 33.0% in the first quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock valued at $43,000 after acquiring an additional 593 shares during the last quarter. Hilltop National Bank boosted 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 last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Infosys during the 4th quarter worth approximately $56,000. Whittier Trust Co. of Nevada Inc. raised 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 buying an additional 1,693 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in Infosys in the fourth quarter valued at approximately $123,000. 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.