Infosys (NYSE:INFY) Upgraded at StockNews.com

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

Several other research firms also recently weighed in on INFY. HSBC raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Investec cut shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Hsbc Global Res upgraded Infosys from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. Finally, BMO Capital Markets increased their price objective on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.85.

Infosys Stock Up 0.6 %

INFY opened at $23.40 on Thursday. The firm has a market cap of $96.92 billion, a PE ratio of 30.00, a P/E/G ratio of 3.77 and a beta of 1.00. The business has a fifty day simple moving average of $22.30 and a 200-day simple moving average of $21.36. Infosys has a fifty-two week low of $16.04 and a fifty-two week high of $23.63.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate 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 prior year, the business posted $0.18 earnings per share. On average, equities research analysts anticipate that Infosys will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders 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 yield of 1.1%. This is an increase from Infosys’s previous semi-annual dividend of $0.20. Infosys’s payout ratio is 53.85%.

Institutional Investors Weigh In On Infosys

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cetera Advisors LLC bought a new position in Infosys during the first quarter valued at approximately $210,000. SG Americas Securities LLC boosted its holdings in Infosys by 138.3% in the second quarter. SG Americas Securities LLC now owns 57,860 shares of the technology company’s stock worth $1,077,000 after purchasing an additional 33,577 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Infosys by 93.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,394 shares of the technology company’s stock worth $566,000 after purchasing an additional 14,721 shares in the last quarter. Outlook Wealth Advisors LLC increased its position in Infosys by 29.4% during the second quarter. Outlook Wealth Advisors LLC now owns 17,371 shares of the technology company’s stock worth $323,000 after buying an additional 3,943 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in Infosys by 134.6% during the second quarter. Blue Trust Inc. now owns 22,411 shares of the technology company’s stock valued at $402,000 after buying an additional 12,858 shares in the last quarter. 16.20% 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.