Infosys Limited (NYSE:INFY) Holdings Raised by Summit Global Investments

Summit Global Investments grew its stake in shares of Infosys Limited (NYSE:INFY) by 29.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 127,655 shares of the technology company’s stock after acquiring an additional 29,375 shares during the period. Summit Global Investments’ holdings in Infosys were worth $2,843,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC bought a new stake in Infosys in the third quarter worth approximately $16,560,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Infosys during the 2nd quarter valued at about $529,000. US Bancorp DE raised its stake in shares of Infosys by 36.5% in the 1st quarter. US Bancorp DE now owns 188,338 shares of the technology company’s stock valued at $3,377,000 after acquiring an additional 50,399 shares in the last quarter. Edmond DE Rothschild Holding S.A. lifted its holdings in Infosys by 105.4% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 71,485 shares of the technology company’s stock worth $1,282,000 after purchasing an additional 36,680 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in Infosys by 52.5% during the second quarter. Panagora Asset Management Inc. now owns 1,010,512 shares of the technology company’s stock worth $18,816,000 after purchasing an additional 348,018 shares during the period. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on INFY shares. Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. BMO Capital Markets lifted 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, Investec downgraded Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Two investment 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, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.85.

Infosys Stock Up 1.1 %

NYSE:INFY opened at $21.65 on Friday. Infosys Limited has a twelve month low of $16.04 and a twelve month high of $23.48. The firm has a market capitalization of $89.65 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 3.34 and a beta of 1.00. The stock’s 50 day moving average price is $22.50 and its two-hundred day moving average price is $20.35.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. The business 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 quarter in the prior year, the business earned $0.18 EPS. As a group, analysts anticipate that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were given a $0.2126 dividend. This represents a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, October 29th. This is a boost from Infosys’s previous semi-annual dividend of $0.20. Infosys’s payout ratio is currently 55.13%.

Infosys Company 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.