Fmr LLC Grows Position in Infosys Limited (NYSE:INFY)

FMR LLC raised its holdings in shares of Infosys Limited (NYSE:INFY - Free Report) by 77.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 170,704 shares of the technology company's stock after acquiring an additional 74,697 shares during the quarter. FMR LLC's holdings in Infosys were worth $3,802,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Mizuho Securities Co. Ltd. purchased a new position in Infosys in the third quarter valued at approximately $33,000. Whittier Trust Co. of Nevada Inc. lifted its position in Infosys by 126.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company's stock valued at $56,000 after acquiring an additional 1,693 shares during the last quarter. GAMMA Investing LLC boosted its stake in Infosys by 34.3% in the third quarter. GAMMA Investing LLC now owns 3,936 shares of the technology company's stock valued at $88,000 after acquiring an additional 1,005 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Infosys during the second quarter worth about $162,000. Finally, Bank Pictet & Cie Europe AG purchased a new stake in shares of Infosys in the 2nd quarter valued at about $194,000. Hedge funds and other institutional investors own 16.20% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. BMO Capital Markets boosted their price objective on 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 report on Thursday, October 3rd. StockNews.com raised shares of Infosys from a "hold" rating to a "buy" rating in a report on Thursday. Hsbc Global Res upgraded Infosys from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 9th. Finally, HSBC raised Infosys from a "hold" rating to a "buy" rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.85.

Infosys Trading Up 0.6 %

Shares of INFY traded up $0.15 during trading hours on Friday, reaching $23.40. The company had a trading volume of 4,443,501 shares, compared to its average volume of 9,045,886. The company has a market capitalization of $96.92 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 3.77 and a beta of 1.00. Infosys Limited has a 12-month low of $16.04 and a 12-month high of $23.63. The firm has a 50 day simple moving average of $22.30 and a 200-day simple moving average of $21.36.

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 (EPS) for the quarter, meeting analysts' consensus estimates 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 the consensus estimate of $4.89 billion. During the same period last year, the firm earned $0.18 EPS. Sell-side analysts forecast that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were given a $0.2126 dividend. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a dividend yield of 1.1%. This is a boost from Infosys's previous semi-annual dividend of $0.20. Infosys's dividend payout ratio (DPR) is currently 53.85%.

Infosys Company 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.