Infosys (NYSE:INFY) Upgraded at Erste Group Bank

Erste Group Bank upgraded shares of Infosys (NYSE:INFY) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning, Benzinga reports.

INFY has been the topic of several other reports. Macquarie raised shares of Infosys from an underperform rating to a neutral rating in a report on Friday, July 19th. StockNews.com lowered shares of Infosys from a buy rating to a hold rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $19.27.

Infosys Stock Down 0.2 %

INFY stock opened at $23.20 on Wednesday. Infosys has a 12 month low of $16.04 and a 12 month high of $23.48. The firm has a market cap of $96.09 billion, a P/E ratio of 30.53, a P/E/G ratio of 3.63 and a beta of 0.99. The company’s 50-day moving average price is $21.91 and its two-hundred day moving average price is $19.30.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of INFY. Canada Pension Plan Investment Board lifted its position in shares of Infosys by 37.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock worth $401,826,000 after purchasing an additional 5,862,144 shares during the period. Millennium Management LLC lifted its position in shares of Infosys by 67.9% in the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock worth $141,532,000 after purchasing an additional 3,074,432 shares during the period. Acadian Asset Management LLC lifted its position in shares of Infosys by 106.1% in the 1st quarter. Acadian Asset Management LLC now owns 4,839,764 shares of the technology company’s stock worth $86,764,000 after purchasing an additional 2,491,403 shares during the period. Wellington Management Group LLP lifted its position in shares of Infosys by 539.8% in the 4th quarter. Wellington Management Group LLP now owns 2,010,636 shares of the technology company’s stock worth $36,955,000 after purchasing an additional 1,696,378 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in shares of Infosys by 46.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company’s stock worth $97,467,000 after purchasing an additional 1,648,650 shares during the period. Institutional investors and hedge funds 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.