Public Employees Retirement System of Ohio Invests $36.04 Million in Infosys Limited (NYSE:INFY)

Public Employees Retirement System of Ohio acquired a new stake in shares of Infosys Limited (NYSE:INFY - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,618,257 shares of the technology company's stock, valued at approximately $36,039,000.

Other large investors have also bought and sold shares of the company. Mizuho Securities Co. Ltd. bought a new stake in shares of Infosys in the 3rd quarter worth approximately $33,000. Whittier Trust Co. of Nevada Inc. boosted its holdings 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 buying an additional 1,693 shares during the last quarter. GAMMA Investing LLC raised its holdings in Infosys by 34.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,936 shares of the technology company's stock worth $88,000 after purchasing an additional 1,005 shares during the period. Ridgewood Investments LLC purchased a new position in shares of Infosys during the 2nd quarter valued at about $162,000. Finally, Advisor Resource Council purchased a new position in shares of Infosys during the 3rd quarter valued at $202,000. 16.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on INFY. BMO Capital Markets lifted their price target on shares of Infosys from $23.00 to $25.00 and gave the company a "market perform" rating in a report on Friday, October 18th. Erste Group Bank upgraded shares of Infosys from a "hold" rating to a "buy" rating in a research report on Wednesday, September 11th. Investec downgraded shares of Infosys from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. Hsbc Global Res upgraded Infosys from a "hold" rating to a "strong-buy" rating in a research report on Monday. Finally, HSBC raised shares of Infosys from a "hold" rating to a "buy" rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $20.85.

Infosys Price Performance

Shares of INFY stock traded up $0.07 during mid-day trading on Tuesday, hitting $23.23. The stock had a trading volume of 6,600,922 shares, compared to its average volume of 9,091,053. Infosys Limited has a 12-month low of $16.04 and a 12-month high of $23.48. The firm's 50-day moving average is $22.23 and its two-hundred day moving average is $21.22. The firm has a market capitalization of $96.22 billion, a P/E ratio of 29.79, a price-to-earnings-growth ratio of 3.69 and a beta of 1.00.

Infosys (NYSE:INFY - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.19. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a net margin of 17.15% and a return on equity of 31.43%. During the same period last year, the firm earned $0.18 earnings per share. Analysts expect that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were given a dividend of $0.2126 per share. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a yield of 1.1%. This is an increase from Infosys's previous semi-annual dividend of $0.20. Infosys's dividend payout ratio (DPR) is presently 53.85%.

About Infosys

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.