Hsbc Global Res Upgrades Infosys (NYSE:INFY) to Strong-Buy

Infosys (NYSE:INFY - Get Free Report) was upgraded by Hsbc Global Res from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on INFY. HSBC raised Infosys from a "hold" rating to a "buy" rating in a research report on Monday. BMO Capital Markets raised their price objective on Infosys from $23.00 to $25.00 and gave the company a "market perform" rating in a research report on Friday, October 18th. Investec downgraded Infosys from a "hold" rating to a "sell" rating in a research report on Thursday, October 3rd. StockNews.com downgraded Infosys from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Finally, Erste Group Bank upgraded Infosys from a "hold" rating to a "buy" rating in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.85.

Infosys Trading Up 0.3 %

Shares of INFY traded up $0.08 during midday trading on Monday, reaching $23.24. 6,554,624 shares of the stock were exchanged, compared to its average volume of 9,090,858. Infosys has a 52 week low of $16.04 and a 52 week high of $23.48. The company's 50 day moving average is $22.23 and its two-hundred day moving average is $21.22. The company has a market capitalization of $96.26 billion, a P/E ratio of 29.79, a PEG ratio of 3.69 and a beta of 1.00.

Infosys (NYSE:INFY - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the company earned $0.18 EPS. On average, sell-side analysts expect that Infosys will post 0.75 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Robeco Institutional Asset Management B.V. grew its holdings in Infosys by 68.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company's stock worth $542,051,000 after acquiring an additional 9,923,744 shares during the period. Canada Pension Plan Investment Board grew its holdings in Infosys by 37.3% during the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company's stock worth $401,826,000 after acquiring an additional 5,862,144 shares during the period. Victory Capital Management Inc. grew its holdings in Infosys by 6,071.1% during the third quarter. Victory Capital Management Inc. now owns 4,739,830 shares of the technology company's stock worth $105,556,000 after acquiring an additional 4,663,023 shares during the period. Millennium Management LLC grew its holdings in Infosys by 67.9% during the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company's stock worth $141,532,000 after acquiring an additional 3,074,432 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in Infosys by 46.0% in the second quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company's stock valued at $97,467,000 after purchasing an additional 1,648,650 shares during the period. 16.20% of the stock is currently owned by hedge funds and other institutional investors.

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.