Infosys (NYSE:INFY) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Infosys (NYSE:INFY) from a buy rating to a hold rating in a research report sent to investors on Thursday.

A number of other research firms have also commented on INFY. Macquarie upgraded shares of Infosys from an underperform rating to a neutral rating in a report on Friday, July 19th. HSBC reaffirmed a hold rating and set a $20.10 price objective on shares of Infosys in a research note on Friday, April 19th. Susquehanna reduced their price target on Infosys from $15.00 to $14.00 and set a negative rating on the stock in a report on Friday, April 19th. Finally, BMO Capital Markets lowered their price target on Infosys from $21.00 to $18.00 and set a market perform rating for the company in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $19.27.

Infosys Stock Up 0.8 %

NYSE INFY opened at $21.30 on Thursday. The firm has a market cap of $88.18 billion, a price-to-earnings ratio of 28.03, a PEG ratio of 3.53 and a beta of 0.98. The company has a 50-day simple moving average of $19.69 and a two-hundred day simple moving average of $18.86. Infosys has a 12-month low of $16.04 and a 12-month high of $22.94.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. Infosys had a return on equity of 32.01% and a net margin of 17.18%. The business had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period last year, the company earned $0.17 EPS. Equities analysts expect that Infosys will post 0.75 earnings per share for the current fiscal 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 issued a dividend of $0.2035 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a dividend yield of 1.4%. Infosys’s dividend payout ratio (DPR) is 36.84%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP raised its holdings in Infosys by 3.6% in the fourth quarter. First Trust Advisors LP now owns 25,209,033 shares of the technology company’s stock worth $463,342,000 after purchasing an additional 884,833 shares in the last quarter. FIL Ltd increased its stake in shares of Infosys by 5.9% in the 4th quarter. FIL Ltd now owns 18,459,935 shares of the technology company’s stock worth $339,294,000 after acquiring an additional 1,031,371 shares in the last quarter. Sustainable Growth Advisers LP lifted its position in Infosys by 4.4% during the 1st 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 during the period. Franklin Resources Inc. boosted its stake in Infosys by 20.7% during the fourth quarter. Franklin Resources Inc. now owns 6,719,669 shares of the technology company’s stock worth $123,508,000 after acquiring an additional 1,150,885 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Infosys by 10.0% in the second quarter. Bank of New York Mellon Corp now owns 6,248,026 shares of the technology company’s stock worth $116,338,000 after purchasing an additional 570,435 shares during the period. Hedge funds and other institutional investors own 10.89% of the company’s stock.

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.