Dynamic Technology Lab Private Ltd Takes Position in Infosys Limited (NYSE:INFY)

Dynamic Technology Lab Private Ltd acquired a new stake in Infosys Limited (NYSE:INFY - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,283 shares of the technology company's stock, valued at approximately $519,000.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in shares of Infosys during the 3rd quarter worth $16,560,000. Baader Bank Aktiengesellschaft purchased a new position in Infosys during the second quarter worth about $529,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Infosys by 186.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,186,685 shares of the technology company's stock valued at $48,697,000 after acquiring an additional 1,422,814 shares during the last quarter. Panagora Asset Management Inc. raised its stake in shares of Infosys by 52.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,010,512 shares of the technology company's stock valued at $18,816,000 after acquiring an additional 348,018 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Infosys by 67.9% in the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company's stock worth $141,532,000 after acquiring an additional 3,074,432 shares during the last quarter. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of Infosys from $23.00 to $25.00 and gave the company a "market perform" rating in a report on Friday, October 18th. Erste Group Bank upgraded Infosys from a "hold" rating to a "buy" rating in a report on Wednesday, September 11th. Investec cut Infosys from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. Finally, StockNews.com downgraded Infosys from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Infosys currently has an average rating of "Hold" and a consensus price target of $20.85.

Infosys Price Performance

Shares of Infosys stock traded down $0.67 on Friday, reaching $22.07. 5,620,906 shares of the company were exchanged, compared to its average volume of 9,178,203. The stock's 50 day moving average price is $22.23 and its 200-day moving average price is $20.96. The company has a market cap of $91.41 billion, a P/E ratio of 28.29, a price-to-earnings-growth ratio of 3.67 and a beta of 1.00. Infosys Limited has a 1-year low of $16.04 and a 1-year high of $23.48.

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

Infosys Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were paid a $0.2126 dividend. The ex-dividend date of this dividend was Tuesday, October 29th. This is a boost from Infosys's previous semi-annual dividend of $0.20. This represents a yield of 1.1%. Infosys's dividend payout ratio (DPR) is currently 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.