Infosys (NYSE:INFY) Lifted to “Neutral” at Macquarie

Macquarie upgraded shares of Infosys (NYSE:INFY) from an underperform rating to a neutral rating in a research report report published on Friday morning, Marketbeat Ratings reports.

A number of other brokerages have also commented on INFY. StockNews.com upgraded shares of Infosys from a hold rating to a buy rating in a report on Friday. Susquehanna cut their price objective on shares of Infosys from $15.00 to $14.00 and set a negative rating on the stock in a report on Friday, April 19th. BMO Capital Markets cut their target price on shares of Infosys from $21.00 to $18.00 and set a market perform rating on the stock in a research note on Friday, April 19th. Bank of America upgraded shares of Infosys from a neutral rating to a buy rating in a research note on Tuesday, April 9th. Finally, HSBC restated a hold rating and issued a $20.10 target price on shares of Infosys in a research note on Friday, April 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $19.27.

Infosys Trading Down 2.6 %

NYSE:INFY opened at $21.68 on Friday. The firm has a market capitalization of $89.75 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 4.01 and a beta of 0.98. The firm’s fifty day simple moving average is $18.29 and its 200 day simple moving average is $18.58. Infosys has a twelve month low of $15.33 and a twelve month high of $22.61.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. Infosys had a net margin of 17.18% and a return on equity of 32.00%. The firm had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the previous year, the business posted $0.17 EPS. On average, analysts predict that Infosys will post 0.75 earnings per share for the current year.

Infosys Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 31st were given a dividend of $0.2035 per share. This represents a dividend yield of 1.4%. The ex-dividend date was Friday, May 31st. Infosys’s dividend payout ratio is presently 38.16%.

Institutional Investors Weigh In On Infosys

A number of institutional investors have recently modified their holdings of the business. Buckingham Capital Management Inc. grew its position in shares of Infosys by 0.6% during the 4th quarter. Buckingham Capital Management Inc. now owns 87,324 shares of the technology company’s stock valued at $1,605,000 after buying an additional 499 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Infosys by 22.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after buying an additional 541 shares during the last quarter. HB Wealth Management LLC grew its position in shares of Infosys by 5.7% during the 4th quarter. HB Wealth Management LLC now owns 10,661 shares of the technology company’s stock valued at $196,000 after buying an additional 575 shares during the last quarter. Somerset Trust Co grew its position in Infosys by 4.2% in the 2nd quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock worth $282,000 after purchasing an additional 611 shares during the last quarter. Finally, Drive Wealth Management LLC increased its stake in shares of Infosys by 6.1% in the fourth quarter. Drive Wealth Management LLC now owns 12,354 shares of the technology company’s stock valued at $227,000 after purchasing an additional 707 shares during the period. 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.