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 report released on Thursday.

A number of other brokerages also recently weighed in on INFY. Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. BMO Capital Markets raised their target price on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, Investec lowered Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.85.

Infosys Trading Down 0.7 %

NYSE INFY opened at $20.76 on Thursday. The firm has a market capitalization of $85.98 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 3.37 and a beta of 1.00. The business’s 50-day moving average price is $22.61 and its two-hundred day moving average price is $20.26. Infosys has a 12 month low of $16.04 and a 12 month high of $23.48.

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. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the prior year, the business posted $0.18 earnings per share. As a group, analysts forecast that Infosys will post 0.75 earnings per share for the current fiscal 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 issued a $0.2126 dividend. The ex-dividend date was Tuesday, October 29th. This represents a yield of 1.1%. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. Infosys’s dividend payout ratio is presently 55.13%.

Institutional Trading of Infosys

Several hedge funds have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV boosted its stake in Infosys by 2.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock valued at $328,000 after purchasing an additional 505 shares during the last quarter. Outlook Wealth Advisors LLC boosted its position in shares of Infosys by 3.0% during the third quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company’s stock valued at $399,000 after buying an additional 526 shares during the last quarter. GAMMA Investing LLC grew its holdings in Infosys by 22.6% during the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after buying an additional 541 shares in the last quarter. D Orazio & Associates Inc. raised its position in Infosys by 4.1% in the 2nd quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock valued at $274,000 after buying an additional 584 shares during the last quarter. Finally, Somerset Trust Co lifted its stake in Infosys by 4.2% during the 2nd quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock valued at $282,000 after acquiring an additional 611 shares in the last quarter. Institutional investors and hedge funds 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.