Infosys (NYSE:INFY) Cut to “Hold” at StockNews.com

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

INFY has been the subject of a number of other research reports. Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.27.

Infosys Stock Performance

Shares of NYSE INFY opened at $22.85 on Friday. The stock has a market cap of $94.60 billion, a P/E ratio of 30.07, a P/E/G ratio of 3.63 and a beta of 0.99. The firm has a 50 day moving average price of $22.23 and a 200 day moving average price of $19.40. Infosys has a 52-week low of $16.04 and a 52-week 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 firm 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 in the previous year, the company earned $0.17 earnings per share. Analysts predict that Infosys will post 0.75 earnings per share for the current fiscal year.

Institutional Trading of Infosys

A number of institutional investors have recently made changes to their positions in INFY. GAMMA Investing LLC lifted its position in shares of Infosys by 33.0% in the first quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock worth $43,000 after purchasing an additional 593 shares in the last quarter. Hilltop National Bank lifted its position in shares of Infosys by 50.8% in the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after purchasing an additional 1,004 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in Infosys during the fourth quarter worth $56,000. Whittier Trust Co. of Nevada Inc. increased its holdings in 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, EverSource Wealth Advisors LLC increased its holdings in Infosys by 113.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,130 shares of the technology company’s stock worth $58,000 after buying an additional 1,663 shares during the last quarter. Institutional investors own 10.89% of the company’s stock.

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.