Infosys (NYSE:INFY) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Infosys (NYSE:INFY) from a buy rating to a hold rating in a report published on Thursday morning.

A number of other analysts also recently issued reports on the stock. Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. 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 note on Friday, October 18th. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.85.

Infosys Stock Performance

Shares of INFY stock opened at $20.76 on Thursday. The company has a market capitalization of $85.98 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 3.37 and a beta of 1.00. Infosys has a one year low of $16.04 and a one year high of $23.48. The company’s 50-day moving average is $22.61 and its 200 day moving average is $20.28.

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

Infosys Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were paid a $0.2126 dividend. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a dividend yield of 1.1%. This is an increase from Infosys’s previous semi-annual dividend of $0.20. Infosys’s dividend payout ratio (DPR) is 55.13%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its stake in Infosys by 6.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,857,531 shares of the technology company’s stock worth $33,306,000 after buying an additional 112,790 shares in the last quarter. HB Wealth Management LLC raised its stake in Infosys by 11.2% during the 1st quarter. HB Wealth Management LLC now owns 11,851 shares of the technology company’s stock valued at $212,000 after purchasing an additional 1,190 shares during the period. Van ECK Associates Corp lifted its holdings in Infosys by 57.9% in the 1st quarter. Van ECK Associates Corp now owns 420,436 shares of the technology company’s stock worth $7,538,000 after purchasing an additional 154,191 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Infosys by 5.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 67,322 shares of the technology company’s stock worth $1,207,000 after purchasing an additional 3,429 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Infosys by 49.3% during the 1st quarter. BNP Paribas Financial Markets now owns 3,741,065 shares of the technology company’s stock valued at $67,077,000 after buying an additional 1,235,140 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.