Naviter Wealth LLC Increases Holdings in Infosys Limited (NYSE:INFY)

Naviter Wealth LLC increased its stake in Infosys Limited (NYSE:INFY) by 13.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 75,779 shares of the technology company’s stock after buying an additional 9,027 shares during the quarter. Naviter Wealth LLC’s holdings in Infosys were worth $1,359,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its stake in Infosys by 17.5% during the third quarter. Envestnet Asset Management Inc. now owns 536,948 shares of the technology company’s stock valued at $9,187,000 after buying an additional 80,104 shares during the period. Mariner LLC boosted its stake in Infosys by 43.7% during the third quarter. Mariner LLC now owns 50,218 shares of the technology company’s stock valued at $859,000 after buying an additional 15,283 shares during the period. Northern Trust Corp boosted its stake in Infosys by 69.7% during the third quarter. Northern Trust Corp now owns 1,956,038 shares of the technology company’s stock valued at $33,468,000 after buying an additional 803,582 shares during the period. Natixis Advisors L.P. boosted its stake in Infosys by 28.3% during the third quarter. Natixis Advisors L.P. now owns 164,121 shares of the technology company’s stock valued at $2,808,000 after buying an additional 36,210 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Infosys by 33.5% during the third quarter. AQR Capital Management LLC now owns 425,253 shares of the technology company’s stock valued at $7,276,000 after buying an additional 106,729 shares during the period. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

Infosys Price Performance

Shares of NYSE:INFY opened at $19.23 on Wednesday. Infosys Limited has a 1 year low of $15.33 and a 1 year high of $20.74. The company has a market cap of $79.61 billion, a PE ratio of 25.30, a P/E/G ratio of 3.43 and a beta of 0.98. The stock’s 50-day moving average is $17.41 and its 200 day moving average is $18.43.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Infosys had a return on equity of 32.33% and a net margin of 17.06%. The company had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the previous year, the business earned $0.18 EPS. Analysts expect that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 31st were issued a dividend of $0.2035 per share. The ex-dividend date was Friday, May 31st. This represents a dividend yield of 1.4%. Infosys’s dividend payout ratio (DPR) is 38.16%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Guggenheim assumed coverage on Infosys in a research note on Tuesday, March 19th. They set a “neutral” rating and a $20.00 price objective for the company. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Susquehanna dropped their price target on Infosys from $15.00 to $14.00 and set a “negative” rating for the company in a research note on Friday, April 19th. BMO Capital Markets dropped their price target on Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a research note on Friday, April 19th. Finally, HSBC reaffirmed a “hold” rating and set a $20.10 price target on shares of Infosys in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Infosys presently has an average rating of “Hold” and a consensus price target of $19.27.

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.