Cerity Partners LLC Acquires 37,616 Shares of Infosys Limited (NYSE:INFY)

Cerity Partners LLC boosted its stake in shares of Infosys Limited (NYSE:INFY - Free Report) by 71.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,966 shares of the technology company's stock after buying an additional 37,616 shares during the quarter. Cerity Partners LLC's holdings in Infosys were worth $2,004,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of INFY. Robeco Institutional Asset Management B.V. lifted its holdings in Infosys by 68.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company's stock valued at $542,051,000 after buying an additional 9,923,744 shares during the period. Canada Pension Plan Investment Board grew its stake in Infosys by 37.3% during the second 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. Victory Capital Management Inc. increased its holdings in Infosys by 6,071.1% in the third quarter. Victory Capital Management Inc. now owns 4,739,830 shares of the technology company's stock worth $105,556,000 after purchasing an additional 4,663,023 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Infosys by 67.9% during the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company's stock worth $141,532,000 after buying an additional 3,074,432 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Infosys by 46.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company's stock worth $97,467,000 after buying an additional 1,648,650 shares in the last quarter. 10.89% of the stock is owned by institutional investors.

Infosys Price Performance

Shares of NYSE INFY traded up $0.14 during midday trading on Monday, reaching $22.21. The company's stock had a trading volume of 5,836,231 shares, compared to its average volume of 9,163,798. Infosys Limited has a 12-month low of $16.04 and a 12-month high of $23.48. The stock has a market capitalization of $91.99 billion, a P/E ratio of 28.46, a PEG ratio of 3.56 and a beta of 1.00. The firm has a 50 day moving average price of $22.23 and a 200-day moving average price of $20.99.

Infosys (NYSE:INFY - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. Infosys had a net margin of 17.15% and a return on equity of 31.43%. During the same quarter in the prior year, the business earned $0.18 earnings per share. On average, equities analysts predict that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

The company also recently disclosed 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 is an increase from Infosys's previous semi-annual dividend of $0.20. The ex-dividend date was Tuesday, October 29th. This represents a yield of 1.1%. Infosys's dividend payout ratio is presently 53.85%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on INFY. Investec lowered shares of Infosys from a "hold" rating to a "sell" rating in a research note on Thursday, October 3rd. StockNews.com lowered shares of Infosys from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th. BMO Capital Markets raised their target price on Infosys from $23.00 to $25.00 and gave the company a "market perform" rating in a research note on Friday, October 18th. Finally, Erste Group Bank raised Infosys from a "hold" rating to a "buy" rating in a research report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $20.85.

Infosys 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.