Infosys (NYSE:INFY) Cut to "Hold" at StockNews.com

Infosys (NYSE:INFY - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Wednesday.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets raised their price objective on shares of Infosys from $23.00 to $25.00 and gave the stock a "market perform" rating in a report on Friday, October 18th. Investec downgraded shares of Infosys from a "hold" rating to a "sell" rating in a research note on Thursday, October 3rd. Finally, Erste Group Bank upgraded shares of 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, five have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Infosys currently has a consensus rating of "Hold" and a consensus price target of $20.85.

Infosys Trading Up 1.2 %

Shares of INFY stock traded up $0.27 on Wednesday, reaching $22.00. 7,812,628 shares of the company's stock were exchanged, compared to its average volume of 9,206,478. The stock has a market capitalization of $91.10 billion, a PE ratio of 28.20, a P/E/G ratio of 3.48 and a beta of 1.00. Infosys has a 52 week low of $16.04 and a 52 week high of $23.48. The company's fifty day simple moving average is $22.27 and its 200 day simple moving average is $20.69.

Infosys (NYSE:INFY - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts' expectations of $4.89 billion. During the same quarter in the previous year, the firm posted $0.18 EPS. As a group, sell-side analysts predict that Infosys will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Infosys

Several hedge funds have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV raised its stake in shares of Infosys by 2.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company's stock worth $328,000 after purchasing an additional 505 shares in the last quarter. Canopy Partners LLC raised its position in shares of Infosys by 3.1% during the third quarter. Canopy Partners LLC now owns 17,129 shares of the technology company's stock valued at $381,000 after buying an additional 522 shares during the last quarter. Outlook Wealth Advisors LLC increased its stake in Infosys by 3.0% during the third quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company's stock valued at $399,000 after acquiring an additional 526 shares during the period. GAMMA Investing LLC raised its holdings in Infosys by 22.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company's stock valued at $55,000 after acquiring an additional 541 shares in the last quarter. Finally, D Orazio & Associates Inc. increased its position in shares of 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 purchasing an additional 584 shares during the period. 10.89% of the stock is owned by hedge funds and other 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.