Kovitz Investment Group Partners LLC Makes New Investment in Infosys Limited (NYSE:INFY)

Kovitz Investment Group Partners LLC purchased a new position in Infosys Limited (NYSE:INFY) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,888 shares of the technology company’s stock, valued at approximately $206,000.

Other hedge funds also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its holdings in Infosys by 68.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock worth $542,051,000 after purchasing an additional 9,923,744 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Infosys by 37.3% during the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock worth $401,826,000 after buying an additional 5,862,144 shares in the last quarter. Fisher Asset Management LLC raised its position in Infosys by 9.7% in the 3rd quarter. Fisher Asset Management LLC now owns 14,415,018 shares of the technology company’s stock valued at $321,022,000 after buying an additional 1,271,890 shares during the last quarter. Millennium Management LLC lifted its stake in Infosys by 67.9% in the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock valued at $141,532,000 after acquiring an additional 3,074,432 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Infosys by 10.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,248,026 shares of the technology company’s stock worth $116,338,000 after acquiring an additional 570,435 shares during the last quarter. Institutional investors and hedge funds own 16.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Thursday. HSBC upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Investec lowered Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, Hsbc Global Res upgraded Infosys from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.85.

Infosys Trading Up 0.6 %

INFY stock opened at $23.40 on Friday. Infosys Limited has a 1-year low of $16.04 and a 1-year high of $23.63. The business’s 50 day simple moving average is $22.30 and its 200 day simple moving average is $21.33. The firm has a market capitalization of $96.92 billion, a PE ratio of 30.00, a PEG ratio of 3.77 and a beta of 1.00.

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

Infosys Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were issued a dividend of $0.2126 per share. 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 payout ratio is currently 53.85%.

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.