Infosys Limited (NYSE:INFY – Get Rating) – Stock analysts at Wedbush decreased their FY2023 earnings per share estimates for Infosys in a research note issued on Thursday, January 12th. Wedbush analyst M. Katri now expects that the technology company will post earnings of $0.73 per share for the year, down from their prior estimate of $0.74. The consensus estimate for Infosys' current full-year earnings is $0.71 per share. Wedbush also issued estimates for Infosys' FY2024 earnings at $0.88 EPS.

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Infosys (NYSE:INFY – Get Rating) last released its quarterly earnings data on Thursday, January 12th. The technology company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. Infosys had a return on equity of 30.67% and a net margin of 16.90%. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the firm posted $0.18 EPS.

INFY has been the subject of several other reports. BMO Capital Markets upped their target price on Infosys from $20.00 to $21.00 and gave the stock a "market perform" rating in a research note on Friday. Cowen reduced their price objective on Infosys from $19.00 to $18.00 and set a "market perform" rating for the company in a research note on Friday, October 14th. Susquehanna downgraded Infosys from a "positive" rating to a "neutral" rating and reduced their price objective for the company from $29.00 to $20.00 in a research note on Friday, September 16th. StockNews.com raised Infosys from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, Susquehanna Bancshares downgraded Infosys to a "neutral" rating and reduced their price objective for the company from $29.00 to $20.00 in a research note on Friday, September 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Infosys has an average rating of "Hold" and a consensus target price of $21.19.

Infosys Price Performance

Shares of INFY stock opened at $18.52 on Friday. The company has a market cap of $77.93 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 2.52 and a beta of 1.01. The stock has a 50 day simple moving average of $18.80 and a 200-day simple moving average of $18.60. Infosys has a 1-year low of $16.39 and a 1-year high of $26.29.

Institutional Trading of Infosys

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of Infosys by 2.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 76,676,808 shares of the technology company's stock worth $1,419,287,000 after acquiring an additional 2,134,934 shares during the last quarter. FMR LLC grew its holdings in shares of Infosys by 20.3% during the 2nd quarter. FMR LLC now owns 29,344,087 shares of the technology company's stock worth $543,159,000 after purchasing an additional 4,956,478 shares during the period. First Trust Advisors LP grew its holdings in shares of Infosys by 69.4% during the 3rd quarter. First Trust Advisors LP now owns 23,292,667 shares of the technology company's stock worth $395,276,000 after purchasing an additional 9,539,373 shares during the period. State Street Corp grew its holdings in shares of Infosys by 3.7% during the 2nd quarter. State Street Corp now owns 20,720,955 shares of the technology company's stock worth $383,545,000 after purchasing an additional 731,456 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in shares of Infosys by 17.3% during the 3rd quarter. Fisher Asset Management LLC now owns 16,969,677 shares of the technology company's stock worth $287,975,000 after purchasing an additional 2,504,660 shares during the period. 12.68% of the stock is owned by institutional investors and hedge funds.

About Infosys

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Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application development and management, independent validation, product engineering and management, infrastructure management, enterprise application management, and support and integration services.

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