Infosys Limited (NYSE:INFY) Receives $19.27 Consensus Target Price from Brokerages

Shares of Infosys Limited (NYSE:INFY) have earned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $19.27.

A number of equities analysts recently issued reports on INFY shares. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. StockNews.com upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th.

Infosys Trading Up 0.9 %

Shares of Infosys stock opened at $22.68 on Tuesday. The company has a 50 day moving average of $22.18 and a 200-day moving average of $19.38. Infosys has a 1-year low of $16.04 and a 1-year high of $23.48. The company has a market cap of $93.89 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 3.63 and a beta of 0.99.

Infosys (NYSE:INFY) last released its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. The business had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Infosys had a net margin of 17.18% and a return on equity of 32.01%. During the same period in the prior year, the company earned $0.17 EPS. Research analysts forecast that Infosys will post 0.75 earnings per share for the current year.

Institutional Investors Weigh In On Infosys

Large investors have recently modified their holdings of the company. First Trust Advisors LP boosted its stake in Infosys by 3.6% during the fourth quarter. First Trust Advisors LP now owns 25,209,033 shares of the technology company’s stock worth $463,342,000 after acquiring an additional 884,833 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Infosys by 37.3% during the 2nd 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 in the last quarter. FIL Ltd boosted 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 worth $339,294,000 after purchasing an additional 1,031,371 shares in the last quarter. Sustainable Growth Advisers LP increased its position in Infosys by 4.4% in the 1st quarter. Sustainable Growth Advisers LP now owns 16,591,434 shares of the technology company’s stock valued at $297,484,000 after buying an additional 699,641 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Infosys by 67.9% during the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock worth $141,532,000 after buying an additional 3,074,432 shares during the period. 10.89% of the stock is currently owned by institutional investors and hedge funds.

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.