Infosys (NYSE:INFY) Rating Lowered to Sell at Investec

by · The Markets Daily

Infosys (NYSE:INFY – Get Free Report) was downgraded by analysts at Investec from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, MarketBeat Ratings reports.

INFY has been the topic of a number of other reports. StockNews.com upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, Infosys has an average rating of “Hold” and a consensus target price of $19.68.

Check Out Our Latest Stock Report on INFY

Infosys Price Performance

Shares of NYSE:INFY opened at $22.78 on Thursday. The company has a 50 day moving average of $22.42 and a 200-day moving average of $19.62. The stock has a market cap of $94.31 billion, a price-to-earnings ratio of 29.97, a P/E/G ratio of 3.59 and a beta of 0.99. Infosys has a one year low of $16.04 and a one year high of $23.48.

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

Institutional Trading of Infosys

Several institutional investors and hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC acquired a new stake in shares of Infosys during the second quarter valued at about $309,000. Cetera Investment Advisers lifted its stake in Infosys by 12.8% in the second quarter. Cetera Investment Advisers now owns 67,625 shares of the technology company’s stock valued at $1,259,000 after buying an additional 7,662 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Infosys by 10.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 54,158 shares of the technology company’s stock worth $1,008,000 after purchasing an additional 5,174 shares during the period. Creative Planning increased its position in Infosys by 40.1% in the 2nd quarter. Creative Planning now owns 317,218 shares of the technology company’s stock valued at $5,907,000 after buying an additional 90,781 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Infosys by 20.7% during the second quarter. The Manufacturers Life Insurance Company now owns 686,251 shares of the technology company’s stock valued at $12,778,000 after acquiring an additional 117,805 shares in the last quarter. 10.89% of the stock is currently owned by institutional investors.

Infosys Company Profile

(Get Free Report)

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.

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