Signaturefd LLC Raises Stake in Infosys Limited (NYSE:INFY)

Signaturefd LLC grew its holdings in Infosys Limited (NYSE:INFY) by 2.5% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 87,484 shares of the technology company’s stock after buying an additional 2,128 shares during the period. Signaturefd LLC’s holdings in Infosys were worth $1,948,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV lifted its position in Infosys by 2.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock worth $328,000 after acquiring an additional 505 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Infosys by 22.6% during the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after purchasing an additional 541 shares during the period. D Orazio & Associates Inc. increased its stake in Infosys by 4.1% in the 2nd quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock valued at $274,000 after buying an additional 584 shares during the period. Somerset Trust Co raised its position in Infosys by 4.2% during the 2nd quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock worth $282,000 after buying an additional 611 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Infosys by 25.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,795 shares of the technology company’s stock worth $85,000 after acquiring an additional 766 shares during the period. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Stock Performance

INFY opened at $22.16 on Wednesday. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.48. The company’s 50 day simple moving average is $22.70 and its 200 day simple moving average is $20.06. The stock has a market capitalization of $91.74 billion, a PE ratio of 29.16, a P/E/G ratio of 3.68 and a beta of 0.99.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. Infosys had a return on equity of 32.01% and a net margin of 17.18%. During the same period last year, the company posted $0.18 EPS. As a group, sell-side analysts expect that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, October 29th. Investors of record on Friday, January 1st will be given a dividend of $0.2126 per share. This represents a yield of 1.1%. The ex-dividend date is Tuesday, October 29th. This is an increase from Infosys’s previous semi-annual dividend of $0.20. Infosys’s dividend payout ratio is 36.84%.

Analysts Set New Price Targets

INFY has been the subject of several analyst reports. Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. BMO Capital Markets boosted their price objective on shares of Infosys from $23.00 to $25.00 and gave the stock 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 Monday. Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. 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 data from MarketBeat, Infosys currently has an average rating of “Hold” and a consensus 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.