Infosys Limited (NYSE:INFY) Receives $20.85 Average PT from Brokerages

Infosys Limited (NYSE:INFY) has been assigned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $20.85.

A number of brokerages recently commented on INFY. Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. BMO Capital Markets lifted their target price on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th.

Infosys Price Performance

NYSE:INFY opened at $22.86 on Friday. The company has a market cap of $94.68 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 3.57 and a beta of 1.00. Infosys has a 1 year low of $16.04 and a 1 year high of $23.48. The stock’s 50 day simple moving average is $22.20 and its two-hundred day simple moving average is $21.08.

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

Infosys Increases Dividend

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

Institutional Investors Weigh In On Infosys

Several large investors have recently added to or reduced their stakes in INFY. Mizuho Securities Co. Ltd. bought a new stake in shares of Infosys during the third quarter valued at approximately $33,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Infosys in the 3rd quarter worth $57,000. GAMMA Investing LLC lifted its holdings in shares of Infosys by 22.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after buying an additional 541 shares during the period. Hilltop National Bank grew its position in shares of Infosys by 50.8% during the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after buying an additional 1,004 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake 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 valued at $56,000 after buying an additional 1,693 shares during the period. 10.89% of the stock is owned by hedge funds and other institutional investors.

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.