Infosys (NYSE:INFY) Stock Rating Upgraded by StockNews.com

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

INFY has been the topic of a number of other reports. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Hsbc Global Res upgraded Infosys from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Investec downgraded Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. BMO Capital Markets raised their price target on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, HSBC upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.85.

Infosys Trading Up 0.6 %

Shares of INFY opened at $23.40 on Thursday. The business’s fifty day simple moving average is $22.30 and its two-hundred day simple moving average is $21.33. Infosys has a 12 month low of $16.04 and a 12 month high of $23.63. The company has a market cap of $96.92 billion, a price-to-earnings ratio of 30.00, a P/E/G ratio of 3.77 and a beta of 1.00.

Infosys (NYSE:INFY) last released its quarterly earnings results 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 firm 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 31.43% and a net margin of 17.15%. During the same period last year, the business posted $0.18 EPS. As a group, research analysts forecast that Infosys will post 0.75 EPS for the current year.

Institutional Investors Weigh In On Infosys

Large investors have recently made changes to their positions in the company. Cetera Advisors LLC bought a new stake in Infosys during the first quarter worth approximately $210,000. SG Americas Securities LLC increased its stake in Infosys by 138.3% during the second quarter. SG Americas Securities LLC now owns 57,860 shares of the technology company’s stock worth $1,077,000 after acquiring an additional 33,577 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Infosys by 93.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,394 shares of the technology company’s stock worth $566,000 after acquiring an additional 14,721 shares during the last quarter. Outlook Wealth Advisors LLC increased its stake in Infosys by 29.4% during the second quarter. Outlook Wealth Advisors LLC now owns 17,371 shares of the technology company’s stock worth $323,000 after acquiring an additional 3,943 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in Infosys by 134.6% during the second quarter. Blue Trust Inc. now owns 22,411 shares of the technology company’s stock worth $402,000 after acquiring an additional 12,858 shares during the last quarter. 16.20% 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.