Investec Lowers Infosys (NYSE:INFY) to Sell

Investec lowered shares of Infosys (NYSE:INFY) from a hold rating to a sell rating in a research note issued to investors on Thursday, MarketBeat Ratings reports.

A number of other research analysts have also weighed in on the company. StockNews.com upgraded Infosys from a hold rating to a buy rating in a report on Monday, September 30th. Erste Group Bank upgraded Infosys from a hold rating to a buy rating in a research note on Wednesday, September 11th. Finally, Macquarie upgraded shares of Infosys from an underperform rating to a neutral rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Infosys has a consensus rating of Hold and an average target price of $19.68.

Infosys Trading Up 1.7 %

NYSE INFY opened at $22.79 on Thursday. The company has a fifty day simple moving average of $22.42 and a 200 day simple moving average of $19.63. Infosys has a 12-month low of $16.04 and a 12-month high of $23.48. The company has a market cap of $94.35 billion, a P/E ratio of 29.99, a PEG ratio of 3.59 and a beta of 0.99.

Infosys (NYSE:INFY) last posted its earnings results on Thursday, July 18th. The technology company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Infosys had a net margin of 17.18% and a return on equity of 32.01%. The company had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the previous year, the firm posted $0.17 earnings per share. Sell-side analysts predict that Infosys will post 0.75 EPS for the current year.

Institutional Investors Weigh In On Infosys

Several large investors have recently made changes to their positions in INFY. Baader Bank Aktiengesellschaft bought a new position in Infosys during the second quarter valued at about $529,000. BNP Paribas bought a new position in shares of Infosys during the 1st quarter valued at approximately $1,169,000. FIL Ltd grew its position in shares of Infosys by 5.9% during the 4th quarter. FIL Ltd now owns 18,459,935 shares of the technology company’s stock valued at $339,294,000 after acquiring an additional 1,031,371 shares during the period. Capstone Investment Advisors LLC bought a new stake in shares of Infosys in the 1st quarter worth approximately $862,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of 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 purchasing an additional 112,790 shares during the period. 10.89% of the stock is owned by hedge funds and other 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.