Infosys (NYSE:INFY) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Infosys (NYSE:INFY) from a buy rating to a hold rating in a research note released on Thursday morning.

INFY has been the subject of several other research reports. Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. 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 research note on Friday, October 18th. Finally, Investec cut Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Infosys has an average rating of “Hold” and a consensus price target of $20.85.

Infosys Stock Performance

NYSE INFY opened at $20.90 on Thursday. Infosys has a one year low of $16.04 and a one year high of $23.48. The company has a market capitalization of $86.56 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 3.40 and a beta of 0.99. The company’s 50-day simple moving average is $22.64 and its two-hundred day simple moving average is $20.21.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. The company 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 firm posted $0.18 earnings per share. Equities analysts expect that Infosys will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were issued a $0.2126 dividend. This represents a yield of 1.1%. The ex-dividend date was Tuesday, October 29th. This is an increase from Infosys’s previous semi-annual dividend of $0.20. Infosys’s dividend payout ratio is 55.13%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV lifted its holdings in Infosys by 2.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock valued at $328,000 after acquiring an additional 505 shares during the period. Outlook Wealth Advisors LLC lifted its stake in shares of Infosys by 3.0% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company’s stock valued at $399,000 after purchasing an additional 526 shares during the period. GAMMA Investing LLC boosted its holdings in Infosys by 22.6% during the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after buying an additional 541 shares in the last quarter. D Orazio & Associates Inc. grew its position in Infosys by 4.1% during the second quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock valued at $274,000 after buying an additional 584 shares during the period. Finally, Somerset Trust Co increased its holdings in Infosys by 4.2% in the second quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock valued at $282,000 after buying an additional 611 shares in the last quarter. 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.