StockNews.com Downgrades Infosys (NYSE:INFY) to Hold

Infosys (NYSE:INFY) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Several other research analysts have also commented on INFY. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. BMO Capital Markets upped 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. Investec downgraded Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Finally, Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.85.

Infosys Trading Down 3.0 %

Shares of INFY stock opened at $21.11 on Thursday. Infosys has a twelve month low of $16.04 and a twelve month high of $23.48. The stock has a market capitalization of $87.39 billion, a price-to-earnings ratio of 27.78, a P/E/G ratio of 3.57 and a beta of 0.99. The stock has a fifty day simple moving average of $22.67 and a two-hundred day simple moving average of $20.21.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations 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 earned $0.18 EPS. Research analysts predict that Infosys will post 0.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Infosys

Several hedge funds and other institutional investors have recently made changes to their positions in INFY. World Equity Group Inc. acquired a new stake in Infosys during the third quarter worth $283,000. QRG Capital Management Inc. grew its stake in Infosys by 32.5% during the 3rd quarter. QRG Capital Management Inc. now owns 52,946 shares of the technology company’s stock worth $1,179,000 after purchasing an additional 12,991 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake 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 worth $542,051,000 after purchasing an additional 9,923,744 shares in the last quarter. BSW Wealth Partners grew its stake in Infosys by 12.9% during the 3rd quarter. BSW Wealth Partners now owns 20,199 shares of the technology company’s stock worth $450,000 after purchasing an additional 2,313 shares in the last quarter. Finally, Americana Partners LLC boosted its position in shares of Infosys by 6.0% during the 3rd quarter. Americana Partners LLC now owns 13,723 shares of the technology company’s stock worth $306,000 after acquiring an additional 776 shares in the last quarter. Institutional investors and hedge funds own 10.89% of the company’s stock.

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.