Infosys Stock Upgraded to Buy by StockNews.comInfosys Stock Upgraded to Buy by StockNews.com StockNews.com has upgraded Infosys Limited (NYSE: INFY) from a hold rating to a buy rating. Analyst Ratings Infosys has received various analyst ratings: * Guggenheim: Neutral, $20.00 target price * Susquehanna: Negative, $14.00 target price * HSBC: Hold, $20.10 target price * BMO Capital Markets: Market perform, $18.00 target price * Bank of America: Buy Consensus rating: Moderate Buy; Average price target: $19.27 Stock Performance * Opened at $19.31 on Tuesday * 50-day simple moving average: $17.70 * 200-day simple moving average: $18.46 * Market cap: $79.94 billion * P/E ratio: 25.41 * PEG ratio: 3.58 * Beta: 0.98 * 52-week low: $15.33 * 52-week high: $20.74 Earnings and Revenue * Q1 2023 EPS: $0.23, beating consensus by $0.06 * Revenue: $4.56 billion, above analysts’ estimate * Return on equity: 32.33% * Net margin: 17.06% * Estimated EPS for current fiscal year: $0.75 Dividend * Semi-annual dividend: $0.2035 per share * Ex-dividend date: May 31st * Dividend yield: 1.4% * Payout ratio: 38.16% Institutional Activity * Institutional investors own 10.89% of Infosys’ stock. * Aikya Investment Management, Acadian Asset Management, Wellington Management Group, Daiwa Securities Group, and BNP Paribas Financial Markets have recently increased their stakes in the company. About Infosys Infosys provides consulting, technology, and digital services globally. Its offerings include digital marketing, AI, cloud, and sustainability solutions.
StockNews.com upgraded shares of Infosys (NYSE:INFY – Free Report) from a hold rating to a buy rating in a research note issued to investors on Tuesday.
A number of other analysts also recently issued reports on INFY. Guggenheim started coverage on Infosys in a research report on Tuesday, March 19th. They issued a neutral rating and a $20.00 target price for the company. Susquehanna decreased their target price on Infosys from $15.00 to $14.00 and set a negative rating for the company in a research report on Friday, April 19th. HSBC reissued a hold rating and issued a $20.10 target price on shares of Infosys in a research report on Friday, April 19th. BMO Capital Markets decreased their target price on Infosys from $21.00 to $18.00 and set a market perform rating for the company in a research report on Friday, April 19th. Finally, Bank of America raised Infosys from a neutral rating to a buy rating in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $19.27.
View Our Latest Stock Report on Infosys
Infosys Stock Performance
Shares of NYSE:INFY opened at $19.31 on Tuesday. The business’s 50 day simple moving average is $17.70 and its two-hundred day simple moving average is $18.46. The firm has a market cap of $79.94 billion, a P/E ratio of 25.41, a PEG ratio of 3.58 and a beta of 0.98. Infosys has a 52-week low of $15.33 and a 52-week high of $20.74.
Infosys (NYSE:INFY – Get Free Report) last announced its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. Infosys had a return on equity of 32.33% and a net margin of 17.06%. The business had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the prior year, the company earned $0.18 earnings per share. On average, equities analysts forecast that Infosys will post 0.75 earnings per share for the current fiscal year.
Infosys Cuts Dividend
The company also recently disclosed a semi-annual dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 31st were given a dividend of $0.2035 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a dividend yield of 1.4%. Infosys’s payout ratio is 38.16%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in INFY. Aikya Investment Management Ltd bought a new position in shares of Infosys in the 4th quarter valued at about $71,409,000. Acadian Asset Management LLC lifted its holdings in shares of Infosys by 106.1% in the 1st quarter. Acadian Asset Management LLC now owns 4,839,764 shares of the technology company’s stock valued at $86,764,000 after acquiring an additional 2,491,403 shares during the last quarter. Wellington Management Group LLP lifted its stake in Infosys by 539.8% in the fourth quarter. Wellington Management Group LLP now owns 2,010,636 shares of the technology company’s stock worth $36,955,000 after purchasing an additional 1,696,378 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Infosys by 76.1% in the first quarter. Daiwa Securities Group Inc. now owns 3,585,850 shares of the technology company’s stock worth $64,294,000 after purchasing an additional 1,549,650 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Infosys by 49.3% in the first quarter. BNP Paribas Financial Markets now owns 3,741,065 shares of the technology company’s stock worth $67,077,000 after purchasing an additional 1,235,140 shares during the last quarter. Hedge funds and other institutional investors own 10.89% of the company’s stock.
About Infosys
(Get Free Report)
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.
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