Weiss Asset Management LP Makes New Investment in Infosys Limited (NYSE:INFY)

Weiss Asset Management LP acquired a new position in Infosys Limited (NYSE:INFY - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 27,473 shares of the technology company's stock, valued at approximately $612,000.

Several other hedge funds and other institutional investors have also bought and sold shares of INFY. Mizuho Securities Co. Ltd. acquired a new position in Infosys in the third quarter valued at $33,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Infosys by 126.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company's stock valued at $56,000 after purchasing an additional 1,693 shares during the period. GAMMA Investing LLC raised its holdings in shares of Infosys by 34.3% during the third quarter. GAMMA Investing LLC now owns 3,936 shares of the technology company's stock valued at $88,000 after purchasing an additional 1,005 shares during the period. Ridgewood Investments LLC acquired a new position in shares of Infosys during the second quarter valued at about $162,000. Finally, Bank Pictet & Cie Europe AG acquired a new position in shares of Infosys during the second quarter valued at about $194,000. Institutional investors and hedge funds own 16.20% of the company's stock.

Wall Street Analyst Weigh In

INFY has been the topic of several research reports. Erste Group Bank upgraded shares of Infosys from a "hold" rating to a "buy" rating in a report on Wednesday, September 11th. BMO Capital Markets upped their target price on shares of Infosys from $23.00 to $25.00 and gave the stock a "market perform" rating in a report on Friday, October 18th. HSBC upgraded shares of Infosys from a "hold" rating to a "buy" rating in a report on Monday. Investec lowered shares of Infosys from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. Finally, StockNews.com lowered shares of Infosys from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $20.85.

Infosys Price Performance

Shares of Infosys stock traded up $0.30 on Monday, reaching $23.16. 6,292,038 shares of the company traded hands, compared to its average volume of 9,101,560. Infosys Limited has a 52 week low of $16.04 and a 52 week high of $23.48. The company has a 50 day moving average of $22.23 and a 200 day moving average of $21.22. The firm has a market capitalization of $95.93 billion, a PE ratio of 29.69, a PEG ratio of 3.69 and a beta of 1.00.

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

Infosys Increases Dividend

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

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.