M&T Bank Corp increased its position in Infosys Limited (NYSE:INFY - Free Report) by 247.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 94,907 shares of the technology company's stock after purchasing an additional 67,580 shares during the period. M&T Bank Corp's holdings in Infosys were worth $2,114,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mizuho Securities Co. Ltd. acquired a new stake in shares of Infosys during the third quarter worth $33,000. Whittier Trust Co. of Nevada Inc. raised its stake in 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 worth $56,000 after acquiring an additional 1,693 shares during the period. GAMMA Investing LLC lifted its holdings in Infosys by 34.3% in the third quarter. GAMMA Investing LLC now owns 3,936 shares of the technology company's stock worth $88,000 after acquiring an additional 1,005 shares during the last quarter. Ridgewood Investments LLC acquired a new position in Infosys in the second quarter valued at approximately $162,000. Finally, Bank Pictet & Cie Europe AG bought a new position in shares of Infosys during the second quarter valued at approximately $194,000. 16.20% of the stock is owned by institutional investors.
Infosys Stock Performance
Shares of NYSE:INFY traded up $0.15 during trading 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 firm's fifty day moving average is $22.30 and its 200 day moving average is $21.39. The firm has a market capitalization of $96.92 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 3.77 and a beta of 1.00. Infosys Limited has a twelve month low of $16.04 and a twelve month high of $23.63.
Infosys (NYSE:INFY - Get Free Report) last released its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share 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 the consensus estimate of $4.89 billion. During the same period in the prior year, the firm posted $0.18 earnings per share. Equities analysts predict that Infosys Limited will post 0.75 earnings per share for the current fiscal year.
Infosys Increases Dividend
The company also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were issued a dividend of $0.2126 per share. This is a positive change from Infosys's previous semi-annual dividend of $0.20. This represents a yield of 1.1%. The ex-dividend date was Tuesday, October 29th. Infosys's payout ratio is presently 53.85%.
Wall Street Analyst Weigh In
INFY has been the topic of several recent research reports. Erste Group Bank raised Infosys from a "hold" rating to a "buy" rating in a report on Wednesday, September 11th. Hsbc Global Res upgraded Infosys from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 9th. Investec lowered shares of Infosys from a "hold" rating to a "sell" rating in a research report on Thursday, October 3rd. StockNews.com upgraded shares of Infosys from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, 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 note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Infosys presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.85.
Read Our Latest Stock Report on INFY
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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