Infosys (NYSE:INFY) Stock Rating Upgraded by StockNews.com

Infosys (NYSE:INFY - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Tuesday.

A number of other research firms have also commented on INFY. BMO Capital Markets raised their price target on Infosys from $23.00 to $25.00 and gave the stock a "market perform" rating in a report on Friday, October 18th. Erste Group Bank raised Infosys from a "hold" rating to a "buy" rating in a research note on Wednesday, September 11th. Investec downgraded Infosys from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. Finally, Macquarie upgraded Infosys from an "underperform" rating to a "neutral" rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $20.85.

Infosys Stock Performance

Shares of Infosys stock traded down $0.03 on Tuesday, hitting $22.01. The company had a trading volume of 3,848,785 shares, compared to its average volume of 9,285,586. The stock has a market capitalization of $91.16 billion, a price-to-earnings ratio of 28.35, a P/E/G ratio of 3.51 and a beta of 1.00. Infosys has a 1 year low of $16.04 and a 1 year high of $23.48. The stock has a 50 day moving average of $22.42 and a 200-day moving average of $20.47.

Infosys (NYSE:INFY - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting analysts' consensus estimates of $0.19. The company 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 earnings per share. Equities analysts anticipate that Infosys will post 0.75 earnings per share for the current year.

Hedge Funds Weigh In On Infosys

A number of institutional investors have recently bought and sold shares of INFY. Mizuho Securities Co. Ltd. purchased a new stake in Infosys in the 3rd quarter worth $33,000. Hilltop National Bank grew its position in shares of Infosys by 50.8% during the second 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 grew its position in shares of Infosys by 22.6% during the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company's stock valued at $55,000 after purchasing an additional 541 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Infosys by 126.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company's stock valued at $56,000 after purchasing an additional 1,693 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of Infosys during the second quarter valued at about $162,000. 10.89% of the stock is owned by institutional investors.

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.