Brokerages Set Infosys Limited (NYSE:INFY) Price Target at $20.85

Infosys Limited (NYSE:INFY - Get Free Report) has been assigned an average rating of "Hold" from the twelve ratings firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $20.85.

Several research analysts have recently issued reports on INFY shares. StockNews.com cut Infosys from a "buy" rating to a "hold" rating in a research report on Thursday, October 31st. 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 shares of Infosys from a "hold" rating to a "buy" rating in a research 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 company a "market perform" rating in a research report on Friday, October 18th. Finally, Investec downgraded shares of Infosys from a "hold" rating to a "sell" rating in a research note on Thursday, October 3rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mizuho Securities Co. Ltd. purchased a new stake in shares of Infosys in the third quarter valued at about $33,000. Hilltop National Bank boosted its holdings in Infosys by 50.8% in the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company's stock valued at $55,000 after purchasing an additional 1,004 shares in the last quarter. GAMMA Investing LLC increased its position in Infosys by 22.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company's stock worth $55,000 after purchasing an additional 541 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Infosys by 126.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company's stock worth $56,000 after buying an additional 1,693 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of Infosys in the 2nd quarter valued at approximately $162,000. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

Infosys Trading Up 3.2 %

NYSE:INFY traded up $0.67 during mid-day trading on Wednesday, hitting $21.38. The stock had a trading volume of 17,779,872 shares, compared to its average volume of 8,477,687. Infosys has a twelve month low of $16.04 and a twelve month high of $23.48. The stock has a 50-day simple moving average of $22.50 and a two-hundred day simple moving average of $20.35. The company has a market capitalization of $88.55 billion, a PE ratio of 27.41, a PEG ratio of 3.34 and a beta of 1.00.

Infosys (NYSE:INFY - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, meeting analysts' consensus estimates of $0.19. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. Infosys had a net margin of 17.15% and a return on equity of 31.43%. During the same period last year, the business earned $0.18 EPS. Sell-side analysts predict that Infosys will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

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

About Infosys

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.