Infosys (NYSE:INFY) Rating Lowered to Hold at StockNews.com

by · The Markets Daily

StockNews.com lowered shares of Infosys (NYSE:INFY – Free Report) from a buy rating to a hold rating in a research report released on Saturday morning.

A number of other analysts have also recently issued reports on the company. Macquarie raised Infosys from an underperform rating to a neutral rating in a research report on Friday, July 19th. Erste Group Bank upgraded Infosys from a hold rating to a buy rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Infosys presently has a consensus rating of Hold and an average target price of $19.27.

Get Our Latest Stock Report on INFY

Infosys Price Performance

Shares of INFY opened at $22.59 on Friday. The business’s 50-day moving average is $22.31 and its 200-day moving average is $19.45. The company has a market capitalization of $93.50 billion, a price-to-earnings ratio of 29.72, a P/E/G ratio of 3.63 and a beta of 0.99. Infosys has a fifty-two week low of $16.04 and a fifty-two week high of $23.48.

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

Institutional Trading of Infosys

Large investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV raised its stake in Infosys by 2.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock valued at $328,000 after purchasing an additional 505 shares during the last quarter. GAMMA Investing LLC grew its position 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. increased its stake 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 acquiring an additional 584 shares during the period. Somerset Trust Co lifted its position in shares of Infosys by 4.2% in the 2nd quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock worth $282,000 after acquiring an additional 611 shares during the period. Finally, Seed Wealth Management Inc. grew its holdings in shares of Infosys by 5.6% during the 2nd quarter. Seed Wealth Management Inc. now owns 18,260 shares of the technology company’s stock worth $340,000 after purchasing an additional 970 shares in the last quarter. 10.89% of the stock is owned by institutional investors.

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.

Read More