Infosys (NYSE:INFY) Raised to “Buy” at StockNews.com

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

INFY has been the subject of several other research reports. Investec cut Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. BMO Capital Markets boosted their target price on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.85.

Infosys Trading Up 1.3 %

Shares of INFY stock opened at $22.03 on Tuesday. The firm has a 50-day moving average price of $22.44 and a 200 day moving average price of $20.44. Infosys has a twelve month low of $16.04 and a twelve month high of $23.48. The company has a market capitalization of $91.24 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 3.51 and a beta of 1.00.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a net margin of 17.15% and a return on equity of 31.43%. 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 earnings per share for the current year.

Institutional Investors Weigh In On Infosys

Several large investors have recently added to or reduced their stakes in INFY. Mizuho Securities Co. Ltd. bought a new position in shares of Infosys in the third quarter worth $33,000. GAMMA Investing LLC lifted its holdings in shares of Infosys by 22.6% during the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after purchasing an additional 541 shares during the last quarter. Hilltop National Bank lifted its holdings in shares of Infosys by 50.8% during the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after purchasing an additional 1,004 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Infosys by 126.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock valued at $56,000 after purchasing an additional 1,693 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in Infosys in the 2nd quarter worth about $162,000. 10.89% of the stock is 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.