BMO Capital Markets Boosts Infosys (NYSE:INFY) Price Target to $25.00

Infosys (NYSE:INFY) had its price objective hoisted by BMO Capital Markets from $23.00 to $25.00 in a report released on Friday morning, Marketbeat Ratings reports. The brokerage currently has a market perform rating on the technology company’s stock.

INFY has been the subject of several other research reports. StockNews.com upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Finally, Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.85.

Infosys Trading Down 1.4 %

Shares of INFY stock opened at $22.20 on Friday. The stock has a market capitalization of $91.91 billion, a price-to-earnings ratio of 29.21, a price-to-earnings-growth ratio of 3.68 and a beta of 0.99. Infosys has a 12-month low of $16.04 and a 12-month high of $23.48. The stock’s 50-day moving average price is $22.69 and its 200-day moving average price is $20.03.

Infosys (NYSE:INFY) last released its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a return on equity of 32.01% and a net margin of 17.18%. During the same quarter in the previous year, the company posted $0.18 EPS. As a group, research analysts predict that Infosys will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, October 29th. Investors of record on Friday, January 1st will be paid a $0.2126 dividend. This represents a yield of 1.1%. The ex-dividend date is Tuesday, October 29th. This is an increase from Infosys’s previous semi-annual dividend of $0.20. Infosys’s dividend payout ratio (DPR) is currently 36.84%.

Institutional Investors Weigh In On Infosys

Several large investors have recently added to or reduced their stakes in INFY. Canada Pension Plan Investment Board raised its position in 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 valued at $401,826,000 after purchasing an additional 5,862,144 shares in the last quarter. Sustainable Growth Advisers LP raised its holdings in shares of Infosys by 4.4% in the first quarter. Sustainable Growth Advisers LP now owns 16,591,434 shares of the technology company’s stock valued at $297,484,000 after acquiring an additional 699,641 shares in the last quarter. Millennium Management LLC lifted its stake in Infosys by 67.9% in the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock worth $141,532,000 after acquiring an additional 3,074,432 shares during the period. Bank of New York Mellon Corp grew its holdings in Infosys by 10.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,248,026 shares of the technology company’s stock worth $116,338,000 after acquiring an additional 570,435 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Infosys by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,040,195 shares of the technology company’s stock valued at $112,481,000 after purchasing an additional 715,812 shares during the period. 10.89% of the stock is owned by hedge funds and other institutional investors.

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.