Creative Planning Purchases 83,648 Shares of Infosys Limited (NYSE:INFY)

Creative Planning increased its stake in Infosys Limited (NYSE:INFY) by 26.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 400,866 shares of the technology company’s stock after acquiring an additional 83,648 shares during the period. Creative Planning’s holdings in Infosys were worth $8,927,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV lifted its stake in shares of 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 acquiring an additional 505 shares during the last quarter. GAMMA Investing LLC increased its holdings in Infosys by 22.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after purchasing an additional 541 shares during the period. D Orazio & Associates Inc. increased its holdings in Infosys by 4.1% during the 2nd quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock valued at $274,000 after purchasing an additional 584 shares during the period. Somerset Trust Co increased its holdings in Infosys by 4.2% during the 2nd quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock valued at $282,000 after purchasing an additional 611 shares during the period. Finally, Seed Wealth Management Inc. increased its holdings in Infosys by 5.6% during the 2nd quarter. Seed Wealth Management Inc. now owns 18,260 shares of the technology company’s stock valued at $340,000 after purchasing an additional 970 shares during the period. Institutional investors own 10.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on INFY shares. 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 report on Friday, October 18th. Investec downgraded Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a report on Monday. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Infosys has an average rating of “Hold” and an average target price of $20.85.

Infosys Trading Down 0.2 %

INFY stock opened at $22.16 on Wednesday. The stock has a market capitalization of $91.74 billion, a PE ratio of 29.16, a price-to-earnings-growth ratio of 3.68 and a beta of 0.99. Infosys Limited has a 12-month low of $16.04 and a 12-month high of $23.48. The stock’s 50 day simple moving average is $22.70 and its 200 day simple moving average is $20.06.

Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Infosys had a return on equity of 32.01% and a net margin of 17.18%. During the same period in the prior year, the firm earned $0.18 EPS. On average, research analysts predict that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

The company 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 dividend of $0.2126 per share. 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 is Tuesday, October 29th. Infosys’s dividend payout ratio is presently 36.84%.

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.