Victory Capital Management Inc. Increases Stock Holdings in Infosys Limited (NYSE:INFY)

Victory Capital Management Inc. increased its holdings in Infosys Limited (NYSE:INFY) by 6,071.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,739,830 shares of the technology company’s stock after buying an additional 4,663,023 shares during the period. Victory Capital Management Inc. owned about 0.11% of Infosys worth $105,556,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Hilltop National Bank increased its position in Infosys by 50.8% during the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after buying an additional 1,004 shares in the last quarter. GAMMA Investing LLC increased its position in Infosys by 22.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after purchasing an additional 541 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Infosys by 126.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock valued at $56,000 after purchasing an additional 1,693 shares during the last quarter. Ridgewood Investments LLC purchased a new position in Infosys in the 2nd quarter valued at about $162,000. Finally, Bank Pictet & Cie Europe AG acquired a new stake in shares of Infosys during the 2nd quarter worth about $194,000. 10.89% of the stock is owned by institutional investors and hedge funds.

Infosys Trading Up 0.1 %

Shares of INFY stock opened at $22.05 on Thursday. The company’s fifty day simple moving average is $22.40 and its 200-day simple moving average is $20.51. Infosys Limited has a 52 week low of $16.04 and a 52 week high of $23.48. The company has a market cap of $91.31 billion, a PE ratio of 28.06, a P/E/G ratio of 3.56 and a beta of 1.00.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, October 17th. The technology company reported $0.19 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 business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period last year, the business posted $0.18 EPS. Equities research analysts expect 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. Stockholders of record on Friday, January 1st were paid a $0.2126 dividend. The ex-dividend date of this dividend was Tuesday, October 29th. This is an increase from Infosys’s previous semi-annual dividend of $0.20. This represents a dividend yield of 1.1%. Infosys’s dividend payout ratio is 53.85%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on INFY shares. Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. BMO Capital Markets lifted their price objective on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. StockNews.com upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Investec cut Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average 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.