Wealth Enhancement Advisory Services LLC Has $1.96 Million Stock Holdings in Infosys Limited (NYSE:INFY)

Wealth Enhancement Advisory Services LLC increased its position in Infosys Limited (NYSE:INFY) by 188.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,794 shares of the technology company’s stock after buying an additional 57,400 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Infosys were worth $1,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in INFY. Mercer Global Advisors Inc. ADV grew its holdings 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 last quarter. Outlook Wealth Advisors LLC grew its stake in shares of Infosys by 3.0% in the third quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company’s stock worth $399,000 after purchasing an additional 526 shares during the last quarter. GAMMA Investing LLC increased its holdings in Infosys by 22.6% in the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after purchasing an additional 541 shares during the period. D Orazio & Associates Inc. raised its position in Infosys by 4.1% during the 2nd quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock worth $274,000 after purchasing an additional 584 shares during the last quarter. Finally, Somerset Trust Co lifted its holdings 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 period. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Price Performance

INFY stock opened at $20.76 on Friday. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.48. The stock has a market capitalization of $85.98 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 3.37 and a beta of 1.00. The company’s 50-day moving average is $22.61 and its 200-day moving average is $20.26.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $4.89 billion. During the same quarter last year, the firm posted $0.18 earnings per share. On average, analysts anticipate that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were paid a $0.2126 dividend. This represents a dividend yield of 1.1%. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date was Tuesday, October 29th. Infosys’s dividend payout ratio (DPR) is 55.13%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, BMO Capital Markets boosted 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. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Infosys currently has an average rating of “Hold” and an average price target of $20.85.

About Infosys

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.