Thrivent Financial for Lutherans Purchases 128,457 Shares of Infosys Limited (NYSE:INFY)

Thrivent Financial for Lutherans boosted its position in Infosys Limited (NYSE:INFY - Free Report) by 495.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 154,395 shares of the technology company's stock after purchasing an additional 128,457 shares during the quarter. Thrivent Financial for Lutherans' holdings in Infosys were worth $3,438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV boosted its position in shares of Infosys by 2.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company's stock valued at $328,000 after purchasing an additional 505 shares during the period. Outlook Wealth Advisors LLC grew its position in Infosys by 3.0% during the third quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company's stock worth $399,000 after buying an additional 526 shares during the period. GAMMA Investing LLC raised its holdings in Infosys by 22.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company's stock valued at $55,000 after acquiring an additional 541 shares during the last quarter. D Orazio & Associates Inc. increased its position in shares of Infosys by 4.1% in the second quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company's stock worth $274,000 after acquiring an additional 584 shares in the last quarter. Finally, Somerset Trust Co boosted its position in Infosys by 4.2% in the 2nd quarter. Somerset Trust Co now owns 15,140 shares of the technology company's stock valued at $282,000 after buying an additional 611 shares during the last quarter. 10.89% of the stock is currently owned by institutional investors and hedge funds.

Infosys Trading Up 1.5 %

Infosys stock traded up $0.34 during mid-day trading on Tuesday, hitting $23.18. 5,469,322 shares of the company's stock were exchanged, compared to its average volume of 9,183,021. Infosys Limited has a 1-year low of $16.04 and a 1-year high of $23.48. The stock has a 50 day moving average of $22.23 and a two-hundred day moving average of $20.83. The stock has a market cap of $96.01 billion, a P/E ratio of 29.28, a P/E/G ratio of 3.68 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 firm had revenue of $4.89 billion for 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 firm posted $0.18 EPS. As a group, research analysts predict that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

The company 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 of this dividend was Tuesday, October 29th. This is a positive change from Infosys's previous semi-annual dividend of $0.20. This represents a yield of 1.1%. Infosys's payout ratio is 53.85%.

Analysts Set New Price Targets

INFY has been the subject of a number of research analyst reports. Investec lowered shares of Infosys from a "hold" rating to a "sell" rating in a research note on Thursday, October 3rd. BMO Capital Markets upped 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. Erste Group Bank upgraded Infosys from a "hold" rating to a "buy" rating in a research note on Wednesday, September 11th. Finally, StockNews.com downgraded shares of Infosys from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Two 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's stock. Based on data from MarketBeat.com, Infosys presently has a consensus rating of "Hold" and a consensus price target of $20.85.

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.