Summit Global Investments Grows Stake in Infosys Limited (NYSE:INFY)

Summit Global Investments raised its position in Infosys Limited (NYSE:INFY - Free Report) by 29.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 127,655 shares of the technology company's stock after acquiring an additional 29,375 shares during the period. Summit Global Investments' holdings in Infosys were worth $2,843,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of INFY. Mercer Global Advisors Inc. ADV increased its position in Infosys by 2.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company's stock worth $328,000 after buying an additional 505 shares during the last quarter. Outlook Wealth Advisors LLC boosted its stake in Infosys by 3.0% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company's stock valued at $399,000 after purchasing an additional 526 shares during the period. GAMMA Investing LLC grew its holdings in Infosys by 22.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company's stock valued at $55,000 after buying an additional 541 shares in the last quarter. D Orazio & Associates Inc. lifted its holdings in shares of Infosys by 4.1% during the second quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company's stock worth $274,000 after buying an additional 584 shares in the last quarter. Finally, Somerset Trust Co grew its stake in shares of Infosys by 4.2% in the second quarter. Somerset Trust Co now owns 15,140 shares of the technology company's stock valued at $282,000 after acquiring an additional 611 shares in the last quarter. Institutional investors and hedge funds own 10.89% of the company's stock.

Analysts Set New Price Targets

INFY has been the subject of a number of recent research reports. StockNews.com downgraded shares of Infosys from a "buy" rating to a "hold" rating in a report on Thursday, October 31st. Macquarie raised shares of Infosys from an "underperform" rating to a "neutral" rating in a research report on Friday, July 19th. BMO Capital Markets boosted their target price on shares of Infosys from $23.00 to $25.00 and gave the company a "market perform" rating in a research report on Friday, October 18th. Investec downgraded Infosys from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. Finally, Erste Group Bank raised Infosys from a "hold" rating to a "buy" rating in a report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Infosys has an average rating of "Hold" and a consensus target price of $20.85.

Infosys Price Performance

Shares of INFY traded up $0.13 during trading hours on Friday, hitting $21.78. The stock had a trading volume of 6,576,043 shares, compared to its average volume of 9,317,174. Infosys Limited has a 1-year low of $16.04 and a 1-year high of $23.48. The firm has a 50 day simple moving average of $22.50 and a 200-day simple moving average of $20.35. The firm has a market capitalization of $90.21 billion, a P/E ratio of 27.75, a price-to-earnings-growth ratio of 3.34 and a beta of 1.00.

Infosys (NYSE:INFY - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share 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 business had revenue of $4.89 billion for the quarter, compared to analysts' expectations of $4.89 billion. During the same period in the previous year, the company earned $0.18 earnings per share. Equities analysts predict that Infosys Limited will post 0.75 EPS for the current fiscal 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 of this dividend was Tuesday, October 29th. This represents a yield of 1.1%. Infosys's dividend payout ratio is presently 55.13%.

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.