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

Infosys (NYSE:INFY) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

A number of other equities analysts have also recently issued reports on INFY. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. BMO Capital Markets increased their target price on shares of 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 shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.85.

Infosys Stock Up 0.6 %

INFY opened at $21.74 on Wednesday. Infosys has a twelve month low of $16.04 and a twelve month high of $23.48. The company has a fifty day moving average of $22.29 and a 200-day moving average of $20.68. The stock has a market cap of $90.04 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 3.48 and a beta of 1.00.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The firm had revenue of $4.89 billion during 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. Sell-side analysts anticipate that Infosys will post 0.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Infosys

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rehmann Capital Advisory Group bought a new stake in Infosys during the 3rd quarter worth approximately $300,000. M&T Bank Corp boosted its position in shares of Infosys by 247.3% during the third quarter. M&T Bank Corp now owns 94,907 shares of the technology company’s stock valued at $2,114,000 after buying an additional 67,580 shares during the last quarter. Barclays PLC grew its holdings in Infosys by 11.8% during the third quarter. Barclays PLC now owns 2,523,605 shares of the technology company’s stock worth $56,200,000 after buying an additional 266,902 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Infosys in the 3rd quarter valued at $36,039,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Infosys by 22.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 670,907 shares of the technology company’s stock valued at $14,941,000 after acquiring an additional 123,083 shares in the last quarter. Institutional investors and hedge funds 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.