Infosys (NYSE:INFY) Downgraded by StockNews.com

StockNews.com cut shares of Infosys (NYSE:INFY) from a buy rating to a hold rating in a research note released on Saturday morning.

Several other equities analysts have also recently issued reports on INFY. Erste Group Bank raised Infosys from a hold rating to a buy rating in a report on Wednesday, September 11th. Macquarie raised shares of Infosys from an underperform rating to a neutral rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $19.27.

Infosys Stock Performance

NYSE:INFY opened at $22.69 on Friday. Infosys has a 1 year low of $16.04 and a 1 year high of $23.48. The stock has a fifty day moving average price of $22.28 and a two-hundred day moving average price of $19.43. The stock has a market capitalization of $93.94 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 3.63 and a beta of 0.99.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.67 billion. Infosys had a net margin of 17.18% and a return on equity of 32.01%. During the same quarter last year, the firm posted $0.17 EPS. On average, analysts predict that Infosys will post 0.75 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Principal Financial Group Inc. acquired a new position in Infosys during the fourth quarter worth approximately $6,205,000. PNC Financial Services Group Inc. increased its holdings in Infosys by 3.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 70,540 shares of the technology company’s stock valued at $1,297,000 after purchasing an additional 2,573 shares in the last quarter. Corient Private Wealth LLC lifted its stake in shares of Infosys by 1.2% during the fourth quarter. Corient Private Wealth LLC now owns 115,156 shares of the technology company’s stock worth $2,117,000 after purchasing an additional 1,335 shares in the last quarter. Assetmark Inc. boosted its position in shares of Infosys by 31.8% in the fourth quarter. Assetmark Inc. now owns 12,656 shares of the technology company’s stock worth $233,000 after buying an additional 3,054 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in Infosys by 113.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,130 shares of the technology company’s stock worth $58,000 after acquiring an additional 1,663 shares in the last quarter. Hedge funds and other institutional investors 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.