Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Infosys Limited (NYSE:INFY - Free Report) by 31.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,227 shares of the technology company's stock after selling 39,910 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Infosys were worth $1,908,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in INFY. Hilltop National Bank raised its holdings in Infosys by 50.8% in the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company's stock worth $55,000 after buying an additional 1,004 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Infosys by 22.6% in 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 during the period. Whittier Trust Co. of Nevada Inc. grew its stake in shares of 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 worth $56,000 after acquiring an additional 1,693 shares during the period. Ridgewood Investments LLC bought a new stake in shares of Infosys in the second quarter worth approximately $162,000. Finally, Bank Pictet & Cie Europe AG bought a new stake in shares of Infosys in the second quarter worth approximately $194,000. 10.89% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts recently weighed in on INFY shares. StockNews.com cut shares of Infosys from a "buy" rating to a "hold" rating in a research note on Thursday. Macquarie raised Infosys from an "underperform" rating to a "neutral" rating in a report on Friday, July 19th. Erste Group Bank raised Infosys from a "hold" rating to a "buy" rating in a research note on Wednesday, September 11th. Investec downgraded Infosys from a "hold" rating to a "sell" rating in a research note on Thursday, October 3rd. Finally, BMO Capital Markets increased their target price on Infosys from $23.00 to $25.00 and gave the company a "market perform" rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $20.85.
Check Out Our Latest Stock Report on Infosys
Infosys Trading Down 1.0 %
INFY stock traded down $0.21 during trading on Thursday, reaching $20.91. 8,612,137 shares of the stock were exchanged, compared to its average volume of 9,265,188. The firm has a market capitalization of $86.57 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 3.57 and a beta of 0.99. The business has a 50 day moving average price of $22.67 and a 200-day moving average price of $20.21. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.48.
Infosys (NYSE:INFY - Get Free Report) last posted its earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting analysts' consensus estimates of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the business earned $0.18 earnings per share. On average, research analysts anticipate that Infosys Limited will post 0.75 EPS for the current year.
Infosys Increases Dividend
The business also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were given a $0.2126 dividend. The ex-dividend date was Tuesday, October 29th. This represents a yield of 1.1%. This is a positive change from Infosys's previous semi-annual dividend of $0.20. Infosys's dividend payout ratio (DPR) is currently 55.26%.
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.
Featured Stories
Before you consider Infosys, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Infosys wasn't on the list.
While Infosys currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
