Infosys (NYSE:INFY) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Infosys (NYSE:INFY) from a hold rating to a buy rating in a report released on Tuesday.

Several other research analysts have also recently commented on the company. HSBC reiterated a hold rating and issued a $20.10 price target on shares of Infosys in a research note on Friday, April 19th. Susquehanna cut their price target on Infosys from $15.00 to $14.00 and set a negative rating on the stock in a research note on Friday, April 19th. BMO Capital Markets cut their price target on Infosys from $21.00 to $18.00 and set a market perform rating on the stock in a research note on Friday, April 19th. Wedbush reiterated an outperform rating and issued a $22.00 price target on shares of Infosys in a research note on Wednesday, March 13th. Finally, Bank of America upgraded Infosys from a neutral rating to a buy rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $19.27.

Infosys Price Performance

Shares of INFY opened at $19.90 on Tuesday. The stock’s 50-day moving average is $17.81 and its two-hundred day moving average is $18.48. The stock has a market cap of $82.36 billion, a PE ratio of 26.18, a P/E/G ratio of 3.59 and a beta of 0.98. Infosys has a 12 month low of $15.33 and a 12 month high of $20.74.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, April 18th. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.49 billion. Infosys had a return on equity of 32.33% and a net margin of 17.06%. During the same quarter in the previous year, the firm posted $0.18 earnings per share. On average, research analysts anticipate that Infosys will post 0.75 earnings per share for the current year.

Infosys Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 31st were given a $0.2035 dividend. The ex-dividend date was Friday, May 31st. This represents a yield of 1.4%. Infosys’s dividend payout ratio (DPR) is 38.16%.

Institutional Investors Weigh In On Infosys

A number of institutional investors have recently added to or reduced their stakes in the company. Buckingham Capital Management Inc. lifted its position in Infosys by 0.6% in the fourth quarter. Buckingham Capital Management Inc. now owns 87,324 shares of the technology company’s stock worth $1,605,000 after purchasing an additional 499 shares during the period. GAMMA Investing LLC boosted its stake in shares of Infosys by 22.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after acquiring an additional 541 shares in the last quarter. HB Wealth Management LLC boosted its stake in shares of Infosys by 5.7% during the 4th quarter. HB Wealth Management LLC now owns 10,661 shares of the technology company’s stock worth $196,000 after acquiring an additional 575 shares in the last quarter. Somerset Trust Co boosted its stake in shares of Infosys by 4.2% during the 2nd quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock worth $282,000 after acquiring an additional 611 shares in the last quarter. Finally, Marshall Financial Group LLC boosted its position in shares of Infosys by 1.2% in the fourth quarter. Marshall Financial Group LLC now owns 52,478 shares of the technology company’s stock worth $965,000 after buying an additional 622 shares during the period. 10.89% of the stock is currently owned by institutional investors and hedge funds.

Infosys Company Profile

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.