Infosys (NYSE:INFY) Raised to Strong-Buy at Hsbc Global Res

Infosys (NYSE:INFY) was upgraded by equities researchers at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Investec cut shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. HSBC upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Monday. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, BMO Capital Markets increased their price target on shares of Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.85.

Infosys Trading Up 0.3 %

INFY stock opened at $23.23 on Monday. The company’s 50 day moving average is $22.23 and its 200 day moving average is $21.22. The stock has a market cap of $96.22 billion, a price-to-earnings ratio of 29.79, a price-to-earnings-growth ratio of 3.69 and a beta of 1.00. Infosys has a 1-year low of $16.04 and a 1-year high of $23.48.

Infosys (NYSE:INFY) last posted its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Infosys had a net margin of 17.15% and a return on equity of 31.43%. During the same period in the prior year, the business earned $0.18 earnings per share. As a group, sell-side analysts forecast that Infosys will post 0.75 EPS for the current fiscal year.

Institutional Trading of Infosys

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new stake in Infosys in the third quarter worth $16,560,000. Baader Bank Aktiengesellschaft purchased a new stake in Infosys in the second quarter worth $529,000. BNP Paribas Financial Markets lifted its stake in Infosys by 5.1% in the third quarter. BNP Paribas Financial Markets now owns 6,072,537 shares of the technology company’s stock worth $135,235,000 after acquiring an additional 297,183 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Infosys by 186.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,186,685 shares of the technology company’s stock worth $48,697,000 after acquiring an additional 1,422,814 shares during the period. Finally, Panagora Asset Management Inc. lifted its stake in Infosys by 52.5% in the second quarter. Panagora Asset Management Inc. now owns 1,010,512 shares of the technology company’s stock worth $18,816,000 after acquiring an additional 348,018 shares during the period. Hedge funds and other institutional investors own 16.20% 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.