Zurcher Kantonalbank Zurich Cantonalbank Has $5.77 Million Holdings in Infosys Limited (NYSE:INFY)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Infosys Limited (NYSE:INFY - Free Report) by 70.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 258,872 shares of the technology company's stock after acquiring an additional 107,291 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Infosys were worth $5,765,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV lifted its position in 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 last quarter. Canopy Partners LLC grew 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 buying an additional 522 shares in the last quarter. Outlook Wealth Advisors LLC increased its position in Infosys by 3.0% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company's stock valued at $399,000 after acquiring an additional 526 shares during the period. GAMMA Investing LLC boosted its position in Infosys by 22.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company's stock worth $55,000 after acquiring an additional 541 shares during the period. Finally, D Orazio & Associates Inc. grew its stake 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 purchasing an additional 584 shares in the last quarter. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on INFY shares. 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 Infosys from $23.00 to $25.00 and gave the stock a "market perform" rating in a research report on Friday, October 18th. StockNews.com downgraded Infosys from a "buy" rating to a "hold" rating in a research note on Wednesday, November 20th. Finally, Erste Group Bank raised shares of Infosys from a "hold" rating to a "buy" rating in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $20.85.

Infosys Stock Down 0.4 %

Shares of INFY traded down $0.08 during midday trading on Tuesday, reaching $22.12. 8,215,671 shares of the stock were exchanged, compared to its average volume of 9,159,729. The company has a market cap of $91.62 billion, a price-to-earnings ratio of 28.36, a P/E/G ratio of 3.58 and a beta of 1.00. The firm has a 50 day simple moving average of $22.23 and a 200-day simple moving average of $20.99. Infosys Limited has a 12-month low of $16.04 and a 12-month high of $23.48.

Infosys (NYSE:INFY - Get Free Report) last issued 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. The firm had revenue of $4.89 billion during the quarter, compared to analysts' expectations of $4.89 billion. Infosys had a net margin of 17.15% and a return on equity of 31.43%. During the same period in the prior year, the company posted $0.18 earnings per share. Research analysts expect that Infosys Limited will post 0.75 earnings per share for the current fiscal 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. This represents a dividend yield of 1.1%. This is a boost from Infosys's previous semi-annual dividend of $0.20. The ex-dividend date of this dividend was Tuesday, October 29th. Infosys's payout ratio 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.