KBC Group NV trimmed its position in shares of Infosys Limited (NYSE:INFY - Free Report) by 25.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 131,862 shares of the technology company's stock after selling 45,030 shares during the period. KBC Group NV's holdings in Infosys were worth $2,937,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mizuho Securities Co. Ltd. bought a new position in Infosys during the third quarter worth about $33,000. Hilltop National Bank grew its position in Infosys by 50.8% in the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company's stock valued at $55,000 after acquiring an additional 1,004 shares during the period. GAMMA Investing LLC raised its stake in Infosys by 22.6% during the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company's stock worth $55,000 after acquiring an additional 541 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Infosys by 126.7% during 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 period. Finally, Ridgewood Investments LLC acquired a new stake in shares of Infosys in the 2nd quarter valued at $162,000. 10.89% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
INFY has been the subject of several analyst reports. Erste Group Bank raised shares of Infosys from a "hold" rating to a "buy" rating in a report on Wednesday, September 11th. BMO Capital Markets boosted their target price on Infosys from $23.00 to $25.00 and gave the stock a "market perform" rating in a report on Friday, October 18th. Investec cut Infosys from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. Finally, StockNews.com raised Infosys from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Infosys presently has an average rating of "Hold" and an average price target of $20.85.
Get Our Latest Analysis on INFY
Infosys Price Performance
Shares of INFY stock traded up $0.11 during trading hours on Monday, reaching $21.64. The company had a trading volume of 3,488,445 shares, compared to its average volume of 9,221,004. Infosys Limited has a 1-year low of $16.04 and a 1-year high of $23.48. The company has a 50 day moving average of $22.33 and a 200 day moving average of $20.61. The firm has a market cap of $89.63 billion, a price-to-earnings ratio of 27.60, a P/E/G ratio of 3.48 and a beta of 1.00.
Infosys (NYSE:INFY - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. Infosys had a net margin of 17.15% and a return on equity of 31.43%. During the same quarter in the previous year, the business earned $0.18 EPS. As a group, sell-side analysts forecast that Infosys Limited will post 0.75 EPS for the current fiscal year.
Infosys Increases Dividend
The firm also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were paid a dividend of $0.2126 per share. This represents a yield of 1.1%. This is a boost from Infosys's previous semi-annual dividend of $0.20. The ex-dividend date of this dividend was Tuesday, October 29th. Infosys's dividend payout ratio is presently 53.85%.
About Infosys
(
Free Report)
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.
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