62,145 Shares in Infosys Limited (NYSE:INFY) Purchased by Blueshift Asset Management LLC

Blueshift Asset Management LLC bought a new stake in Infosys Limited (NYSE:INFY) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 62,145 shares of the technology company’s stock, valued at approximately $1,384,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV boosted its stake in Infosys by 2.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock valued at $328,000 after buying an additional 505 shares in the last quarter. Canopy Partners LLC increased its position in Infosys by 3.1% during the 3rd quarter. Canopy Partners LLC now owns 17,129 shares of the technology company’s stock worth $381,000 after purchasing an additional 522 shares in the last quarter. Outlook Wealth Advisors LLC lifted its stake in Infosys by 3.0% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company’s stock valued at $399,000 after purchasing an additional 526 shares during the last quarter. GAMMA Investing LLC boosted its position in Infosys by 22.6% in the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after buying an additional 541 shares in the last quarter. Finally, D Orazio & Associates Inc. grew its stake in shares of Infosys by 4.1% during the second quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock worth $274,000 after buying an additional 584 shares during the last quarter. 10.89% of the stock is currently owned by institutional investors and hedge funds.

Infosys Stock Up 1.4 %

INFY stock opened at $23.17 on Wednesday. The firm has a market cap of $95.97 billion, a price-to-earnings ratio of 29.71, a PEG ratio of 3.69 and a beta of 1.00. The company’s fifty day simple moving average is $22.24 and its 200 day simple moving average is $20.87. Infosys Limited has a 12-month low of $16.04 and a 12-month high of $23.48.

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. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. Infosys had a return on equity of 31.43% and a net margin of 17.15%. During the same quarter in the prior year, the company earned $0.18 EPS. Research analysts expect 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 represents a dividend yield of 1.1%. The ex-dividend date was Tuesday, October 29th. This is an increase from Infosys’s previous semi-annual dividend of $0.20. Infosys’s payout ratio is presently 53.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Investec cut Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. BMO Capital Markets boosted their price target on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.