Investec Downgrades Infosys (NYSE:INFY) to Sell

Investec cut shares of Infosys (NYSE:INFY - Free Report) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, MarketBeat reports.

Other equities analysts also recently issued reports about the stock. Macquarie raised shares of Infosys from an underperform rating to a neutral rating in a research note on Friday, July 19th. StockNews.com raised shares of Infosys from a hold rating to a buy rating in a research note on Monday. Finally, Erste Group Bank upgraded shares of Infosys from a hold rating to a buy rating in a report on Wednesday, September 11th. Two 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. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $19.27.

Infosys Stock Performance

Shares of NYSE:INFY traded up $0.09 on Thursday, hitting $22.41. 7,816,414 shares of the company were exchanged, compared to its average volume of 9,370,771. The company's 50 day moving average price is $22.41 and its two-hundred day moving average price is $19.58. Infosys has a one year low of $16.04 and a one year high of $23.48. The firm has a market capitalization of $92.78 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 3.59 and a beta of 0.99.

Infosys (NYSE:INFY - Get Free Report) last issued its 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 business had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.67 billion. Infosys had a net margin of 17.18% and a return on equity of 32.01%. During the same period in the previous year, the business earned $0.17 EPS. Research analysts predict that Infosys will post 0.75 earnings per share for the current year.

Hedge Funds Weigh In On Infosys

Several large investors have recently modified their holdings of INFY. GAMMA Investing LLC increased its position in Infosys by 33.0% during the first quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company's stock worth $43,000 after acquiring an additional 593 shares during the period. Hilltop National Bank raised its holdings in Infosys by 50.8% during the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company's stock worth $55,000 after purchasing an additional 1,004 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in 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 purchasing an additional 1,693 shares during the last quarter. Jones Financial Companies Lllp bought a new position in Infosys during the 4th quarter worth approximately $56,000. Finally, Hennessy Advisors Inc. bought a new stake in shares of Infosys in the 4th quarter valued at $123,000. 10.89% of the stock is owned by 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.