Infosys Limited (NYSE:INFY) Given Average Rating of “Hold” by Brokerages

Shares of Infosys Limited (NYSE:INFY) have been given an average rating of “Hold” by the twelve brokerages that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $19.68.

INFY has been the topic of several analyst reports. StockNews.com raised Infosys from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Investec cut shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Finally, Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th.

Infosys Price Performance

Shares of NYSE:INFY opened at $22.90 on Friday. The business’s 50 day simple moving average is $22.62 and its 200-day simple moving average is $19.91. The firm has a market capitalization of $94.80 billion, a price-to-earnings ratio of 30.13, a price-to-earnings-growth ratio of 3.68 and a beta of 0.99. Infosys has a 12 month low of $16.04 and a 12 month high of $23.48.

Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, July 18th. The technology company reported $0.18 EPS 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 prior year, the business earned $0.17 earnings per share. On average, equities analysts anticipate that Infosys will post 0.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INFY. Canada Pension Plan Investment Board raised its holdings in Infosys by 37.3% in the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock valued at $401,826,000 after acquiring an additional 5,862,144 shares in the last quarter. FIL Ltd raised its stake in shares of Infosys by 5.9% in the 4th quarter. FIL Ltd now owns 18,459,935 shares of the technology company’s stock valued at $339,294,000 after purchasing an additional 1,031,371 shares in the last quarter. Sustainable Growth Advisers LP lifted its position in shares of Infosys by 4.4% during the first quarter. Sustainable Growth Advisers LP now owns 16,591,434 shares of the technology company’s stock worth $297,484,000 after purchasing an additional 699,641 shares during the last quarter. Millennium Management LLC grew its stake in Infosys by 67.9% in the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock worth $141,532,000 after purchasing an additional 3,074,432 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Infosys by 10.0% in the second quarter. Bank of New York Mellon Corp now owns 6,248,026 shares of the technology company’s stock worth $116,338,000 after purchasing an additional 570,435 shares in the last quarter. Institutional investors and hedge funds own 10.89% of the company’s stock.

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.