PNC Financial Services Group Inc. Increases Position in Infosys Limited (NYSE:INFY)

PNC Financial Services Group Inc. raised its holdings in shares of Infosys Limited (NYSE:INFY) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,540 shares of the technology company’s stock after buying an additional 2,573 shares during the period. PNC Financial Services Group Inc.’s holdings in Infosys were worth $1,297,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in shares of Infosys by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,360,152 shares of the technology company’s stock valued at $98,547,000 after purchasing an additional 209,675 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Infosys by 2.3% in the third quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock valued at $139,327,000 after purchasing an additional 180,888 shares during the period. Alberta Investment Management Corp boosted its holdings in shares of Infosys by 118.6% in the fourth quarter. Alberta Investment Management Corp now owns 1,328,956 shares of the technology company’s stock valued at $24,426,000 after purchasing an additional 720,885 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Infosys in the fourth quarter valued at approximately $878,000. Finally, FIL Ltd boosted its holdings in shares of Infosys by 5.9% in the fourth quarter. FIL Ltd now owns 18,459,935 shares of the technology company’s stock valued at $339,294,000 after purchasing an additional 1,031,371 shares during the period. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Infosys Trading Down 1.1 %

Shares of INFY stock opened at $18.06 on Friday. The business’s fifty day simple moving average is $17.23 and its 200-day simple moving average is $18.39. The company has a market cap of $74.77 billion, a PE ratio of 23.76, a PEG ratio of 3.37 and a beta of 0.96. Infosys Limited has a 12-month low of $15.15 and a 12-month high of $20.74.

Infosys (NYSE:INFY) last released its earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. Infosys had a return on equity of 32.33% and a net margin of 17.06%. The firm had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same period in the prior year, the firm earned $0.18 EPS. On average, equities analysts forecast that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 31st were given a $0.2035 dividend. This represents a dividend yield of 1.4%. The ex-dividend date was Friday, May 31st. Infosys’s payout ratio is 38.16%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on INFY. BMO Capital Markets lowered their target price on Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, April 19th. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Wedbush restated an “outperform” rating and set a $22.00 target price on shares of Infosys in a report on Wednesday, March 13th. HSBC restated a “hold” rating and set a $20.10 target price on shares of Infosys in a report on Friday, April 19th. Finally, Susquehanna lowered their target price on Infosys from $15.00 to $14.00 and set a “negative” rating for the company in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.27.

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.