Infosys (NYSE:INFY) Lifted to Buy at Erste Group Bank

Erste Group Bank upgraded shares of Infosys (NYSE:INFY) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Benzinga reports.

A number of other equities research analysts have also commented on the company. Macquarie upgraded Infosys from an underperform rating to a neutral rating in a research report on Friday, July 19th. StockNews.com cut Infosys from a buy rating to a hold rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Infosys presently has a consensus rating of Hold and a consensus price target of $19.27.

Infosys Price Performance

Infosys stock opened at $22.91 on Wednesday. The firm has a market capitalization of $94.85 billion, a P/E ratio of 30.14, a P/E/G ratio of 3.57 and a beta of 0.99. The stock has a fifty day moving average price of $21.76 and a two-hundred day moving average price of $19.25. Infosys has a 52-week low of $16.04 and a 52-week high of $23.48.

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

Institutional Investors Weigh In On Infosys

Large investors have recently modified their holdings of the business. First Trust Advisors LP grew its position in shares of Infosys by 3.6% in the 4th quarter. First Trust Advisors LP now owns 25,209,033 shares of the technology company’s stock valued at $463,342,000 after purchasing an additional 884,833 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of Infosys by 37.3% in the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock valued at $401,826,000 after buying an additional 5,862,144 shares during the period. FIL Ltd increased its position in shares of Infosys by 5.9% during the fourth quarter. FIL Ltd now owns 18,459,935 shares of the technology company’s stock worth $339,294,000 after acquiring an additional 1,031,371 shares in the last quarter. Sustainable Growth Advisers LP raised its holdings in shares of Infosys by 4.4% during the first quarter. Sustainable Growth Advisers LP now owns 16,591,434 shares of the technology company’s stock worth $297,484,000 after acquiring an additional 699,641 shares during the period. Finally, Millennium Management LLC lifted its position in Infosys by 67.9% in the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock valued at $141,532,000 after acquiring an additional 3,074,432 shares in the last quarter. 10.89% of the stock is currently owned by institutional investors.

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.