Infosys Limited (NYSE:INFY) Shares Acquired by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. lifted its position in Infosys Limited (NYSE:INFY) by 25.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,795 shares of the technology company’s stock after acquiring an additional 766 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Infosys were worth $85,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INFY. Baader Bank Aktiengesellschaft acquired a new position in shares of Infosys in the second quarter valued at about $529,000. BNP Paribas acquired a new position in Infosys in the 1st quarter worth approximately $1,169,000. Capstone Investment Advisors LLC purchased a new position in Infosys during the 1st quarter worth approximately $862,000. Allspring Global Investments Holdings LLC lifted its stake in Infosys by 6.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,857,531 shares of the technology company’s stock valued at $33,306,000 after acquiring an additional 112,790 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of Infosys by 36.5% in the 1st quarter. US Bancorp DE now owns 188,338 shares of the technology company’s stock valued at $3,377,000 after acquiring an additional 50,399 shares during the last quarter. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on INFY. BMO Capital Markets raised their target price 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. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Investec downgraded Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a research report on Monday. Two 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. Based on data from MarketBeat, Infosys currently has a consensus rating of “Hold” and a consensus price target of $20.85.

Infosys Price Performance

Shares of NYSE:INFY opened at $22.20 on Thursday. The business’s 50 day moving average price is $22.71 and its 200-day moving average price is $20.08. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.48. The firm has a market capitalization of $91.91 billion, a price-to-earnings ratio of 29.21, a price-to-earnings-growth ratio of 3.68 and a beta of 0.99.

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

Infosys Increases Dividend

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

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.