Mizuho Securities Co. Ltd. Takes Position in Infosys Limited (NYSE:INFY)

Mizuho Securities Co. Ltd. acquired a new position in Infosys Limited (NYSE:INFY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,500 shares of the technology company’s stock, valued at approximately $33,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its position in shares of Infosys by 68.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock valued at $542,051,000 after purchasing an additional 9,923,744 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Infosys by 37.3% in the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock worth $401,826,000 after purchasing an additional 5,862,144 shares during the period. Victory Capital Management Inc. raised its position in shares of Infosys by 6,071.1% in the third quarter. Victory Capital Management Inc. now owns 4,739,830 shares of the technology company’s stock worth $105,556,000 after buying an additional 4,663,023 shares in the last quarter. Millennium Management LLC boosted its stake in Infosys by 67.9% during the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock valued at $141,532,000 after buying an additional 3,074,432 shares during the period. Finally, Acadian Asset Management LLC grew its position in Infosys by 106.1% during the first quarter. Acadian Asset Management LLC now owns 4,839,764 shares of the technology company’s stock worth $86,764,000 after buying an additional 2,491,403 shares in the last quarter. 10.89% of the stock is currently owned by institutional investors.

Infosys Stock Performance

Shares of NYSE INFY traded down $0.19 during mid-day trading on Wednesday, hitting $21.83. 1,853,677 shares of the stock traded hands, compared to its average volume of 9,251,807. The stock has a fifty day moving average price of $22.40 and a 200-day moving average price of $20.51. The company has a market cap of $90.42 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 3.56 and a beta of 1.00. Infosys Limited has a 52 week low of $16.04 and a 52 week high of $23.48.

Infosys (NYSE:INFY) last posted its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. Infosys had a net margin of 17.15% and a return on equity of 31.43%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the previous year, the firm posted $0.18 earnings per share. As a group, sell-side analysts predict that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

The business also recently announced 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 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 was Tuesday, October 29th. Infosys’s dividend payout ratio is currently 53.85%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on INFY shares. Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. BMO Capital Markets lifted their target price on shares of Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. StockNews.com upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Two 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 currently has an average rating of “Hold” and an average target price 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.