Infosys Limited (NYSE:INFY) Shares Acquired by Citigroup Inc.

Citigroup Inc. raised its stake in shares of Infosys Limited (NYSE:INFY - Free Report) by 114.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 898,538 shares of the technology company's stock after buying an additional 479,116 shares during the quarter. Citigroup Inc.'s holdings in Infosys were worth $20,010,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Infosys by 68.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company's stock worth $542,051,000 after purchasing an additional 9,923,744 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of 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 last quarter. Millennium Management LLC boosted its holdings in shares of Infosys by 67.9% during the second 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 last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Infosys by 10.0% during the second quarter. Bank of New York Mellon Corp now owns 6,248,026 shares of the technology company's stock worth $116,338,000 after purchasing an additional 570,435 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Infosys by 13.4% during the second quarter. Dimensional Fund Advisors LP now owns 6,040,195 shares of the technology company's stock worth $112,481,000 after purchasing an additional 715,812 shares during the last quarter. Institutional investors and hedge funds own 10.89% of the company's stock.

Analyst Upgrades and Downgrades

INFY has been the topic of several analyst reports. BMO Capital Markets raised 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. Investec lowered Infosys from a "hold" rating to a "sell" rating in a research report on Thursday, October 3rd. StockNews.com lowered Infosys from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Finally, Erste Group Bank raised Infosys from a "hold" rating to a "buy" rating in a research report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Infosys presently has an average rating of "Hold" and a consensus price target of $20.85.

Infosys Trading Down 1.9 %

NYSE:INFY traded down $0.44 during mid-day trading on Wednesday, hitting $22.74. The company had a trading volume of 9,141,146 shares, compared to its average volume of 9,193,670. The business has a fifty day simple moving average of $22.24 and a 200-day simple moving average of $20.89. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.48. The firm has a market capitalization of $94.19 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 3.69 and a beta of 1.00.

Infosys (NYSE:INFY - Get Free Report) last announced its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period in the previous year, the company earned $0.18 earnings per share. As a group, research analysts anticipate that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were given a dividend of $0.2126 per share. This represents a dividend yield of 1.1%. This is a positive change from Infosys's previous semi-annual dividend of $0.20. The ex-dividend date was Tuesday, October 29th. Infosys's payout ratio is presently 53.85%.

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.