Infosys (NYSE:INFY) Upgraded at StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of Infosys (NYSE:INFY – Free Report) from a hold rating to a buy rating in a research report report published on Monday.

INFY has been the subject of a number of other reports. Macquarie raised 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 research report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $19.27.

View Our Latest Analysis on Infosys

Infosys Stock Up 0.4 %

Infosys stock opened at $22.41 on Monday. Infosys has a twelve month low of $16.04 and a twelve month high of $23.48. The company’s 50-day moving average price is $22.42 and its 200-day moving average price is $19.60. The company has a market cap of $92.78 billion, a PE ratio of 29.49, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Infosys (NYSE:INFY – Get Free Report) last released its quarterly earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.67 billion. Infosys had a return on equity of 32.01% and a net margin of 17.18%. During the same quarter in the prior year, the firm posted $0.17 EPS. As a group, sell-side analysts expect that Infosys will post 0.75 earnings per share for the current fiscal year.

Institutional Trading of Infosys

A number of hedge funds and other institutional investors have recently made changes to their positions in INFY. Sanctuary Advisors LLC acquired a new position in shares of Infosys in the second quarter worth about $309,000. Cetera Investment Advisers raised its holdings in Infosys by 12.8% in the 2nd quarter. Cetera Investment Advisers now owns 67,625 shares of the technology company’s stock worth $1,259,000 after purchasing an additional 7,662 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Infosys by 10.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 54,158 shares of the technology company’s stock worth $1,008,000 after purchasing an additional 5,174 shares in the last quarter. Creative Planning grew its holdings in Infosys by 40.1% in the second quarter. Creative Planning now owns 317,218 shares of the technology company’s stock valued at $5,907,000 after purchasing an additional 90,781 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Infosys by 20.7% in the second quarter. The Manufacturers Life Insurance Company now owns 686,251 shares of the technology company’s stock valued at $12,778,000 after buying an additional 117,805 shares in the last quarter. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Company Profile

(Get Free Report)

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.

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