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

StockNews.com cut shares of Infosys (NYSE:INFY) from a buy rating to a hold rating in a research note released on Wednesday morning.

INFY has been the topic of a number of other reports. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. BMO Capital Markets increased their price objective on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, Investec downgraded Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.85.

Infosys Stock Performance

INFY stock opened at $22.79 on Wednesday. The stock’s 50 day simple moving average is $22.24 and its 200 day simple moving average is $20.76. The company has a market cap of $94.39 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 3.55 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.

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

Infosys Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were given a dividend of $0.2126 per share. This is an increase from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date was Tuesday, October 29th. This represents a yield of 1.1%. Infosys’s dividend payout ratio (DPR) is presently 53.85%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. boosted its holdings in Infosys by 68.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock valued at $542,051,000 after acquiring an additional 9,923,744 shares during the period. Canada Pension Plan Investment Board grew 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 worth $401,826,000 after purchasing an additional 5,862,144 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Infosys by 6,071.1% in the third quarter. Victory Capital Management Inc. now owns 4,739,830 shares of the technology company’s stock worth $105,556,000 after buying an additional 4,663,023 shares during the period. Millennium Management LLC raised its holdings in Infosys by 67.9% during the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock valued at $141,532,000 after buying an additional 3,074,432 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Infosys by 46.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company’s stock valued at $97,467,000 after buying an additional 1,648,650 shares during the period. 10.89% of the stock is owned by hedge funds and other institutional investors.

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.