Cerity Partners LLC Buys 37,616 Shares of Infosys Limited (NYSE:INFY)

Cerity Partners LLC increased its stake in Infosys Limited (NYSE:INFY) by 71.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 89,966 shares of the technology company’s stock after purchasing an additional 37,616 shares during the quarter. Cerity Partners LLC’s holdings in Infosys were worth $2,004,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Nwam LLC acquired a new position in shares of Infosys during the 3rd quarter worth about $233,000. Citigroup Inc. increased its position in Infosys by 114.2% during the third quarter. Citigroup Inc. now owns 898,538 shares of the technology company’s stock worth $20,010,000 after acquiring an additional 479,116 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Infosys by 7.0% during 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 purchasing an additional 107,947 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Infosys by 6.9% during 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 purchasing an additional 20,000 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Infosys by 186.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,186,685 shares of the technology company’s stock valued at $48,697,000 after buying an additional 1,422,814 shares during the period. Institutional investors own 10.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Investec lowered Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. StockNews.com cut shares of 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 note on Friday, October 18th. Finally, Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Two equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.85.

Infosys Trading Down 2.9 %

NYSE INFY opened at $22.07 on Monday. Infosys Limited has a 12 month low of $16.04 and a 12 month high of $23.48. The stock has a 50-day simple moving average of $22.23 and a 200 day simple moving average of $20.99. The company has a market capitalization of $91.41 billion, a PE ratio of 28.29, a P/E/G ratio of 3.56 and a beta of 1.00.

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

Infosys Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were issued a $0.2126 dividend. This represents a dividend yield of 1.1%. The ex-dividend date was Tuesday, October 29th. This is a boost from Infosys’s previous semi-annual dividend of $0.20. Infosys’s dividend payout ratio is 53.85%.

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.