State of New Jersey Common Pension Fund D Raises Stake in Infosys Limited (NYSE:INFY)

State of New Jersey Common Pension Fund D lifted its holdings in Infosys Limited (NYSE:INFY) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,309,869 shares of the technology company’s stock after purchasing an additional 10,521 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Infosys were worth $73,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of INFY. Crossmark Global Holdings Inc. lifted its position in Infosys by 41.1% during the third quarter. Crossmark Global Holdings Inc. now owns 223,907 shares of the technology company’s stock valued at $4,986,000 after purchasing an additional 65,189 shares during the period. Assetmark Inc. raised its stake in Infosys by 37.4% during the 3rd quarter. Assetmark Inc. now owns 25,963 shares of the technology company’s stock valued at $578,000 after buying an additional 7,066 shares during the last quarter. Summit Global Investments lifted its holdings in shares of Infosys by 29.9% during the 3rd quarter. Summit Global Investments now owns 127,655 shares of the technology company’s stock valued at $2,843,000 after buying an additional 29,375 shares during the period. Bridgewater Advisors Inc. lifted its holdings in shares of Infosys by 12.4% during the 3rd quarter. Bridgewater Advisors Inc. now owns 31,142 shares of the technology company’s stock valued at $678,000 after buying an additional 3,439 shares during the period. Finally, Advisor Resource Council purchased a new position in shares of Infosys in the 3rd quarter worth $202,000. 10.89% of the stock is owned by institutional investors.

Infosys Stock Up 0.5 %

INFY stock traded up $0.10 during trading on Friday, reaching $21.75. The company’s stock had a trading volume of 7,742,961 shares, compared to its average volume of 9,244,996. The company’s fifty day moving average is $22.44 and its 200-day moving average is $20.41. The company has a market capitalization of $90.08 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 3.45 and a beta of 1.00. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.48.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter last year, the company earned $0.18 EPS. Analysts anticipate that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

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

Analyst Ratings Changes

Several research analysts have issued reports on the company. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Investec cut shares of Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Finally, BMO Capital Markets upped 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. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.85.

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.