Infosys (NYSE:INFY) Sets New 52-Week High – Still a Buy?

Shares of Infosys Limited (NYSE:INFY) reached a new 52-week high on Wednesday . The stock traded as high as $23.48 and last traded at $23.46, with a volume of 899232 shares. The stock had previously closed at $23.24.

Analyst Upgrades and Downgrades

INFY has been the subject of several recent analyst reports. Investec downgraded Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Hsbc Global Res raised Infosys from a “hold” rating to a “strong-buy” rating in a report on Monday. HSBC raised Infosys from a “hold” rating to a “buy” rating in a report on Monday. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, BMO Capital Markets upped their price objective on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.85.

Infosys Price Performance

The business has a 50-day moving average of $22.25 and a two-hundred day moving average of $21.26. The company has a market cap of $96.88 billion, a P/E ratio of 30.13, a P/E/G ratio of 3.69 and a beta of 1.00.

Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period last year, the business posted $0.18 earnings per share. Equities analysts anticipate that Infosys Limited will post 0.75 EPS for the current fiscal 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 given a dividend of $0.2126 per share. This is a boost from Infosys’s previous semi-annual dividend of $0.20. This represents a yield of 1.1%. The ex-dividend date was Tuesday, October 29th. Infosys’s dividend payout ratio (DPR) is currently 53.85%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Mizuho Securities Co. Ltd. acquired a new stake in Infosys in the third quarter valued at approximately $33,000. Wilmington Savings Fund Society FSB acquired a new stake in Infosys in the third quarter valued at approximately $57,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Infosys by 126.7% in 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. GAMMA Investing LLC boosted its stake in shares of Infosys by 34.3% in the third quarter. GAMMA Investing LLC now owns 3,936 shares of the technology company’s stock worth $88,000 after acquiring an additional 1,005 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of Infosys in the second quarter worth approximately $162,000. 16.20% of the stock is currently owned by hedge funds and other institutional investors.

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.