BNP Paribas Financial Markets Buys 297,183 Shares of Infosys Limited (NYSE:INFY)

BNP Paribas Financial Markets lifted its stake in Infosys Limited (NYSE:INFY) by 5.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,072,537 shares of the technology company’s stock after buying an additional 297,183 shares during the quarter. BNP Paribas Financial Markets owned about 0.15% of Infosys worth $135,235,000 as of its most recent filing with the Securities & Exchange Commission.

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

Infosys Stock Up 1.4 %

Shares of NYSE:INFY opened at $23.17 on Wednesday. The business’s 50 day moving average is $22.24 and its 200 day moving average is $20.87. The stock has a market cap of $95.97 billion, a P/E ratio of 29.71, a price-to-earnings-growth ratio of 3.69 and a beta of 1.00. Infosys Limited has a 52-week low of $16.04 and a 52-week high of $23.48.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The business had revenue of $4.89 billion during 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 previous year, the business posted $0.18 EPS. On average, sell-side analysts anticipate that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

The firm 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 of this dividend was Tuesday, October 29th. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. Infosys’s dividend payout ratio is currently 53.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on INFY shares. BMO Capital Markets lifted their price objective on shares of Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Infosys currently 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.