Thrivent Financial for Lutherans Boosts Stock Position in Infosys Limited (NYSE:INFY)

Thrivent Financial for Lutherans lifted its position in Infosys Limited (NYSE:INFY) by 495.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 154,395 shares of the technology company’s stock after purchasing an additional 128,457 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Infosys were worth $3,438,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of INFY. Robeco Institutional Asset Management B.V. grew its position 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 during the period. Canada Pension Plan Investment Board grew its holdings in 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 acquiring an additional 5,862,144 shares during the period. Victory Capital Management Inc. raised its position in Infosys by 6,071.1% during the third quarter. Victory Capital Management Inc. now owns 4,739,830 shares of the technology company’s stock valued at $105,556,000 after acquiring an additional 4,663,023 shares in the last quarter. Millennium Management LLC lifted its holdings in Infosys by 67.9% in the second 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 during the period. Finally, Daiwa Securities Group Inc. boosted its position in Infosys by 46.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company’s stock worth $97,467,000 after purchasing an additional 1,648,650 shares in the last quarter. Institutional investors and hedge funds own 10.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on INFY. BMO Capital Markets lifted their target price on shares of Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, October 18th. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, Investec lowered Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.85.

Infosys Price Performance

Shares of Infosys stock opened at $22.84 on Tuesday. The stock has a market capitalization of $94.60 billion, a P/E ratio of 29.28, a PEG ratio of 3.68 and a beta of 1.00. The business has a 50 day simple moving average of $22.23 and a two-hundred day simple moving average of $20.83. Infosys Limited has a 12 month low of $16.04 and a 12 month high of $23.48.

Infosys (NYSE:INFY) last posted 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. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the prior year, the company earned $0.18 EPS. As a group, research 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. Investors of record on Friday, January 1st were paid a dividend of $0.2126 per share. This represents a 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 dividend 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.