Fmr LLC Has $3.80 Million Stake in Infosys Limited (NYSE:INFY)

Fmr LLC boosted its position in shares of Infosys Limited (NYSE:INFY) by 77.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 170,704 shares of the technology company’s stock after acquiring an additional 74,697 shares during the period. Fmr LLC’s holdings in Infosys were worth $3,802,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INFY. Mizuho Securities Co. Ltd. acquired a new position in Infosys during the 3rd quarter worth $33,000. Whittier Trust Co. of Nevada Inc. lifted its position in Infosys by 126.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after acquiring an additional 1,693 shares during the last quarter. GAMMA Investing LLC lifted its position in Infosys by 34.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,936 shares of the technology company’s stock worth $88,000 after acquiring an additional 1,005 shares during the last quarter. Ridgewood Investments LLC acquired a new position in Infosys during the 2nd quarter worth $162,000. Finally, Bank Pictet & Cie Europe AG bought a new position in shares of Infosys during the 2nd quarter worth about $194,000. Institutional investors and hedge funds own 16.20% of the company’s stock.

Analyst Ratings Changes

INFY has been the topic of several research reports. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Hsbc Global Res upgraded shares of Infosys from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. StockNews.com upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Thursday. BMO Capital Markets boosted their price objective on shares of Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, HSBC raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Infosys presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.85.

Infosys Stock Performance

NYSE INFY opened at $23.40 on Friday. The firm has a 50-day moving average of $22.30 and a 200-day moving average of $21.33. The stock has a market cap of $96.92 billion, a PE ratio of 30.00, a P/E/G ratio of 3.77 and a beta of 1.00. Infosys Limited has a 52-week low of $16.04 and a 52-week high of $23.63.

Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates 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 period last year, the firm earned $0.18 earnings per share. As a group, analysts predict that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were issued a $0.2126 dividend. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. This represents a yield of 1.1%. The ex-dividend date was Tuesday, October 29th. Infosys’s dividend payout ratio (DPR) is currently 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.