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

Infosys (NYSE:INFY) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other analysts have also commented on INFY. Investec lowered Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. 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 lifted 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. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Infosys has a consensus rating of “Hold” and a consensus target price of $20.85.

Infosys Stock Down 0.1 %

Shares of INFY opened at $21.96 on Wednesday. Infosys has a 12-month low of $16.04 and a 12-month high of $23.48. The firm has a market capitalization of $90.95 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 3.51 and a beta of 1.00. The stock’s 50-day moving average price is $22.25 and its 200 day moving average price is $20.70.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. Infosys had a net margin of 17.15% and a return on equity of 31.43%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the company earned $0.18 EPS. Equities research analysts expect that Infosys will post 0.75 EPS for the current year.

Institutional Investors Weigh In On Infosys

A number of institutional investors have recently added to or reduced their stakes in INFY. International Assets Investment Management LLC purchased a new position in Infosys in the third quarter valued at about $16,560,000. Baader Bank Aktiengesellschaft bought a new stake in Infosys during the second quarter worth about $529,000. Panagora Asset Management Inc. grew its position in Infosys by 52.5% during the second quarter. Panagora Asset Management Inc. now owns 1,010,512 shares of the technology company’s stock valued at $18,816,000 after acquiring an additional 348,018 shares during 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 purchasing an additional 3,074,432 shares during the last quarter. Finally, Earnest Partners LLC boosted its holdings in Infosys by 20.7% during the 2nd quarter. Earnest Partners LLC now owns 147,862 shares of the technology company’s stock valued at $2,753,000 after acquiring an additional 25,392 shares during the period. 10.89% of the stock is owned by 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.