10,484 Shares in Infosys Limited (NYSE:INFY) Acquired by Nwam LLC

Nwam LLC purchased a new stake in shares of Infosys Limited (NYSE:INFY) in the 3rd quarter, Holdings Channel reports. The fund purchased 10,484 shares of the technology company’s stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INFY. Citigroup Inc. raised its position in shares of Infosys by 114.2% in the third quarter. Citigroup Inc. now owns 898,538 shares of the technology company’s stock valued at $20,010,000 after purchasing an additional 479,116 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Infosys by 7.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,647,992 shares of the technology company’s stock valued at $36,701,000 after acquiring an additional 107,947 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Infosys by 6.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 310,971 shares of the technology company’s stock valued at $6,925,000 after acquiring an additional 20,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Infosys by 186.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,186,685 shares of the technology company’s stock worth $48,697,000 after acquiring an additional 1,422,814 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of Infosys during the third quarter worth approximately $350,000. 10.89% of the stock is owned by institutional investors.

Infosys Stock Up 0.2 %

INFY opened at $22.84 on Tuesday. The stock has a market capitalization of $94.60 billion, a price-to-earnings ratio of 29.28, a P/E/G ratio of 3.68 and a beta of 1.00. Infosys Limited has a twelve month low of $16.04 and a twelve month high of $23.48. The company has a 50-day simple moving average of $22.23 and a 200 day simple moving average of $20.83.

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

Infosys Increases Dividend

The firm also recently declared 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 positive change from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date was Tuesday, October 29th. This represents a dividend yield of 1.1%. Infosys’s dividend payout ratio (DPR) is presently 53.85%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. BMO Capital Markets increased their price objective on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Investec cut shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Finally, Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.