Infosys Limited (NYSE:INFY) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in Infosys Limited (NYSE:INFY) by 6.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,857,531 shares of the technology company’s stock after acquiring an additional 112,790 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Infosys were worth $33,306,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Buckingham Capital Management Inc. grew its stake in Infosys by 0.6% during the 4th quarter. Buckingham Capital Management Inc. now owns 87,324 shares of the technology company’s stock valued at $1,605,000 after purchasing an additional 499 shares in the last quarter. HB Wealth Management LLC grew its position in shares of Infosys by 5.7% during the fourth quarter. HB Wealth Management LLC now owns 10,661 shares of the technology company’s stock worth $196,000 after buying an additional 575 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Infosys by 33.0% in the first quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock worth $43,000 after buying an additional 593 shares during the last quarter. Marshall Financial Group LLC raised its holdings in Infosys by 1.2% in the fourth quarter. Marshall Financial Group LLC now owns 52,478 shares of the technology company’s stock valued at $965,000 after acquiring an additional 622 shares in the last quarter. Finally, Drive Wealth Management LLC boosted its stake in Infosys by 6.1% during the 4th quarter. Drive Wealth Management LLC now owns 12,354 shares of the technology company’s stock valued at $227,000 after acquiring an additional 707 shares during the last quarter. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Infosys Price Performance

Shares of INFY stock opened at $19.37 on Friday. Infosys Limited has a 12-month low of $15.33 and a 12-month high of $20.74. The firm has a market capitalization of $80.19 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 3.54 and a beta of 0.98. The business has a 50 day simple moving average of $17.50 and a 200 day simple moving average of $18.44.

Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.49 billion. During the same quarter in the prior year, the business posted $0.18 earnings per share. On average, equities analysts anticipate that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 31st were given 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 36.84%.

Wall Street Analysts Forecast Growth

INFY has been the subject of several research analyst reports. Bank of America raised shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. Guggenheim assumed coverage on Infosys in a report on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 price objective for the company. BMO Capital Markets reduced their target price on Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a report on Friday, April 19th. StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, HSBC restated a “hold” rating and set a $20.10 price objective 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 issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.