Infosys (NYSE:INFY) Upgraded by StockNews.com to “Buy” Rating

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

A number of other analysts also recently issued reports on the company. HSBC upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Investec downgraded Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Hsbc Global Res upgraded Infosys from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Guggenheim reiterated a “neutral” rating on shares of Infosys in a research report on Friday, January 17th. Finally, BMO Capital Markets lifted their price target on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.22.

Infosys Stock Performance

Shares of INFY opened at $21.70 on Wednesday. The business has a 50-day moving average of $22.49 and a 200 day moving average of $22.22. Infosys has a fifty-two week low of $16.04 and a fifty-two week high of $23.63. The firm has a market cap of $89.86 billion, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 3.54 and a beta of 1.00.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, January 16th. The technology company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. Infosys had a return on equity of 31.60% and a net margin of 17.28%. During the same period in the prior year, the company posted $0.18 earnings per share. As a group, research analysts predict that Infosys will post 0.74 earnings per share for the current fiscal year.

Institutional Trading of Infosys

A number of hedge funds have recently bought and sold shares of the company. Calamos Wealth Management LLC increased its stake in Infosys by 1.4% in the 4th quarter. Calamos Wealth Management LLC now owns 81,468 shares of the technology company’s stock worth $1,786,000 after purchasing an additional 1,155 shares during the period. abrdn plc increased its stake in Infosys by 6.1% in the 4th quarter. abrdn plc now owns 340,764 shares of the technology company’s stock worth $7,475,000 after purchasing an additional 19,537 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new position in Infosys in the 4th quarter worth approximately $246,000. Haven Global Partners LLC purchased a new position in Infosys in the 4th quarter worth approximately $4,078,000. Finally, Caprock Group LLC increased its stake in Infosys by 11.6% in the 4th quarter. Caprock Group LLC now owns 70,941 shares of the technology company’s stock worth $1,555,000 after purchasing an additional 7,348 shares during the period. Institutional investors own 16.20% of the company’s stock.

About Infosys

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other.