Infosys Limited (NYSE:INFY) Shares Acquired by Ballentine Partners LLC

Ballentine Partners LLC increased its holdings in Infosys Limited (NYSE:INFY) by 16.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,517 shares of the technology company’s stock after purchasing an additional 10,770 shares during the period. Ballentine Partners LLC’s holdings in Infosys were worth $1,726,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Hilltop National Bank increased its stake in shares of Infosys by 50.8% during the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after acquiring an additional 1,004 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of 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 buying an additional 541 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Infosys by 126.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after buying an additional 1,693 shares during the period. Ridgewood Investments LLC acquired a new position in Infosys in the second quarter valued at $162,000. Finally, Bank Pictet & Cie Europe AG purchased a new stake in Infosys during the second quarter valued at about $194,000. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

Infosys Stock Down 0.7 %

Shares of NYSE INFY opened at $21.89 on Friday. The stock’s 50 day moving average price is $22.72 and its two-hundred day moving average price is $20.09. Infosys Limited has a 52-week low of $16.04 and a 52-week high of $23.48. The stock has a market capitalization of $90.66 billion, a P/E ratio of 28.06, a PEG ratio of 3.57 and a beta of 0.99.

Infosys (NYSE:INFY) last posted 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 business had revenue of $4.89 billion for the quarter, compared to analyst estimates 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 posted $0.18 EPS. On average, analysts anticipate that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st will be issued a $0.2126 dividend. The ex-dividend date is Tuesday, October 29th. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. This represents a dividend yield of 1.1%. Infosys’s payout ratio is 37.18%.

Analyst Upgrades and Downgrades

INFY has been the topic of several research analyst reports. Investec lowered Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. BMO Capital Markets increased their price objective on shares of Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Infosys currently 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.