Fisher Asset Management LLC Has $321.02 Million Stock Holdings in Infosys Limited (NYSE:INFY)

Fisher Asset Management LLC lifted its stake in shares of Infosys Limited (NYSE:INFY - Free Report) by 9.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,415,018 shares of the technology company's stock after purchasing an additional 1,271,890 shares during the period. Fisher Asset Management LLC owned approximately 0.35% of Infosys worth $321,022,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of INFY. Robeco Institutional Asset Management B.V. raised its stake 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 buying an additional 9,923,744 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Infosys by 37.3% in the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company's stock valued at $401,826,000 after purchasing an additional 5,862,144 shares in the last quarter. Millennium Management LLC increased its stake in Infosys by 67.9% in the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company's stock valued at $141,532,000 after purchasing an additional 3,074,432 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Infosys by 10.0% in the second quarter. Bank of New York Mellon Corp now owns 6,248,026 shares of the technology company's stock valued at $116,338,000 after purchasing an additional 570,435 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Infosys by 13.4% in the second quarter. Dimensional Fund Advisors LP now owns 6,040,195 shares of the technology company's stock valued at $112,481,000 after purchasing an additional 715,812 shares in the last quarter. 10.89% of the stock is currently owned by institutional investors and hedge funds.

Infosys Price Performance

INFY stock traded up $0.05 during trading hours on Monday, reaching $22.84. 11,805,788 shares of the stock were exchanged, compared to its average volume of 9,202,032. The firm's 50-day moving average is $22.23 and its 200-day moving average is $20.83. The company has a market cap of $94.60 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 3.68 and a beta of 1.00. Infosys Limited has a 12 month low of $16.04 and a 12 month high of $23.48.

Infosys (NYSE:INFY - Get Free Report) last released 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 firm had revenue of $4.89 billion during the quarter, compared to analysts' expectations of $4.89 billion. During the same quarter in the prior year, the company earned $0.18 EPS. As a group, equities research analysts forecast that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

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

Wall Street Analyst Weigh In

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