Infosys (NYSE:INFY) Sets New 52-Week High – Still a Buy?

Infosys Limited (NYSE:INFY)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $23.48 and last traded at $23.46, with a volume of 899232 shares traded. The stock had previously closed at $23.24.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on INFY. Investec lowered Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. BMO Capital Markets lifted their price target on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Hsbc Global Res raised Infosys from a “hold” rating to a “strong-buy” rating in a research note on Monday. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.85.

Infosys Stock Up 0.6 %

The company has a market cap of $96.88 billion, a PE ratio of 30.13, a P/E/G ratio of 3.69 and a beta of 1.00. The stock has a 50-day simple moving average of $22.25 and a 200 day simple moving average of $21.26.

Infosys (NYSE:INFY) last posted its earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the business earned $0.18 earnings per share. As a group, research analysts anticipate that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were given a $0.2126 dividend. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a yield of 1.1%. This is an increase from Infosys’s previous semi-annual dividend of $0.20. Infosys’s payout ratio is currently 53.85%.

Institutional Investors Weigh In On Infosys

Several institutional investors and hedge funds have recently modified their holdings of INFY. Cetera Advisors LLC purchased a new stake in shares of Infosys in the 1st quarter valued at $210,000. SG Americas Securities LLC grew its stake in Infosys by 138.3% during the 2nd quarter. SG Americas Securities LLC now owns 57,860 shares of the technology company’s stock worth $1,077,000 after purchasing an additional 33,577 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Infosys by 16.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 78,166 shares of the technology company’s stock worth $1,455,000 after purchasing an additional 10,844 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Infosys by 93.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,394 shares of the technology company’s stock worth $566,000 after purchasing an additional 14,721 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft acquired a new position in Infosys during the 2nd quarter worth $529,000. Hedge funds and other institutional investors own 16.20% of the company’s stock.

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.