The Manufacturers Life Insurance Company boosted its holdings in shares of Infosys Limited (NYSE:INFY - Free Report) by 27.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 871,551 shares of the technology company's stock after acquiring an additional 185,300 shares during the period. The Manufacturers Life Insurance Company's holdings in Infosys were worth $19,409,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of INFY. Dynamic Technology Lab Private Ltd bought a new position in Infosys in the 3rd quarter worth about $519,000. Fisher Asset Management LLC lifted its stake in shares of Infosys by 9.7% in the third quarter. Fisher Asset Management LLC now owns 14,415,018 shares of the technology company's stock worth $321,022,000 after buying an additional 1,271,890 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Infosys by 11.8% during the third quarter. Daiwa Securities Group Inc. now owns 5,852,900 shares of the technology company's stock valued at $130,344,000 after buying an additional 618,400 shares during the last quarter. Sompo Asset Management Co. Ltd. bought a new stake in shares of Infosys during the third quarter valued at approximately $222,000. Finally, Canopy Partners LLC raised its holdings in Infosys by 3.1% in the 3rd quarter. Canopy Partners LLC now owns 17,129 shares of the technology company's stock worth $381,000 after acquiring an additional 522 shares during the last quarter. Institutional investors own 10.89% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on INFY. BMO Capital Markets lifted 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. StockNews.com downgraded Infosys from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th. Investec cut shares of Infosys from a "hold" rating to a "sell" rating in a research note on Thursday, October 3rd. Finally, Erste Group Bank upgraded shares of Infosys from a "hold" rating to a "buy" rating in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $20.85.
View Our Latest Analysis on INFY
Infosys Price Performance
Shares of INFY stock traded down $0.67 during trading hours on Friday, hitting $22.07. The stock had a trading volume of 5,620,906 shares, compared to its average volume of 7,979,367. The stock has a market capitalization of $91.41 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 3.56 and a beta of 1.00. Infosys Limited has a one year low of $16.04 and a one year high of $23.48. The stock's 50-day moving average price is $22.23 and its two-hundred day moving average price is $20.99.
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, hitting analysts' consensus estimates of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The business 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 company posted $0.18 EPS. As a group, equities research analysts predict that Infosys Limited will post 0.75 earnings per share for the current fiscal year.
Infosys Increases Dividend
The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were given a dividend of $0.2126 per share. 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 53.85%.
Infosys Company Profile
(
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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