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

Shares of Infosys Limited (NYSE:INFY) have earned an average rating of “Hold” from the twelve research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $20.85.

A number of equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Tuesday. BMO Capital Markets increased their price objective on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Investec cut Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Finally, Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th.

Institutional Investors Weigh In On Infosys

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mizuho Securities Co. Ltd. acquired a new stake in shares of Infosys during the third quarter worth about $33,000. Hilltop National Bank lifted its stake in Infosys by 50.8% in the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after buying an additional 1,004 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Infosys by 22.6% in the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after acquiring an additional 541 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in shares of Infosys by 126.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after acquiring an additional 1,693 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of Infosys in the 2nd quarter valued at $162,000. 10.89% of the stock is owned by hedge funds and other institutional investors.

Infosys Stock Down 0.1 %

INFY opened at $22.01 on Wednesday. Infosys has a 52 week low of $16.04 and a 52 week high of $23.48. The business has a fifty day simple moving average of $22.42 and a 200-day simple moving average of $20.47. The firm has a market cap of $91.16 billion, a P/E ratio of 28.35, a P/E/G ratio of 3.51 and a beta of 1.00.

Infosys (NYSE:INFY) last released its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a return on equity of 31.43% and a net margin of 17.15%. During the same period in the previous year, the company posted $0.18 EPS. Sell-side analysts expect that Infosys will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

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

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.