Victory Capital Management Inc. Acquires 4,663,023 Shares of Infosys Limited (NYSE:INFY)

Victory Capital Management Inc. grew its stake in shares of Infosys Limited (NYSE:INFY - Free Report) by 6,071.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,739,830 shares of the technology company's stock after buying an additional 4,663,023 shares during the quarter. Victory Capital Management Inc. owned 0.11% of Infosys worth $105,556,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in Infosys in the 3rd quarter worth approximately $16,560,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Infosys during the 2nd quarter worth $529,000. US Bancorp DE boosted its position in shares of Infosys by 36.5% during the 1st quarter. US Bancorp DE now owns 188,338 shares of the technology company's stock worth $3,377,000 after purchasing an additional 50,399 shares during the period. Panagora Asset Management Inc. grew its stake in shares of Infosys by 52.5% in the second quarter. Panagora Asset Management Inc. now owns 1,010,512 shares of the technology company's stock valued at $18,816,000 after buying an additional 348,018 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Infosys during the first quarter worth about $435,000. 10.89% of the stock is owned by institutional investors.

Infosys Stock Performance

NYSE:INFY traded down $0.22 during mid-day trading on Thursday, reaching $21.82. 6,169,039 shares of the company's stock were exchanged, compared to its average volume of 9,254,049. The firm has a market capitalization of $90.37 billion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00. The business's fifty day simple moving average is $22.38 and its two-hundred day simple moving average is $20.52. Infosys Limited has a one year low of $16.04 and a one year high of $23.48.

Infosys (NYSE:INFY - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a return on equity of 31.43% and a net margin of 17.15%. During the same period in the prior year, the company earned $0.18 EPS. As a group, equities research analysts forecast that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were paid a $0.2126 dividend. The ex-dividend date was Tuesday, October 29th. This represents a dividend yield of 1.1%. This is an increase from Infosys's previous semi-annual dividend of $0.20. Infosys's dividend payout ratio is currently 53.85%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on INFY. Erste Group Bank upgraded shares of Infosys from a "hold" rating to a "buy" rating in a research note on Wednesday, September 11th. Macquarie raised shares of Infosys from an "underperform" rating to a "neutral" rating in a report on Friday, July 19th. StockNews.com raised shares of Infosys from a "hold" rating to a "buy" rating in a report on Tuesday. BMO Capital Markets raised their target price 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. Finally, Investec downgraded shares of Infosys from a "hold" rating to a "sell" rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $20.85.

Infosys Profile

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.