Integrated Wealth Concepts LLC Decreases Stock Position in Infosys Limited (NYSE:INFY)

Integrated Wealth Concepts LLC lessened its position in shares of Infosys Limited (NYSE:INFY) by 58.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,550 shares of the technology company’s stock after selling 16,419 shares during the period. Integrated Wealth Concepts LLC’s holdings in Infosys were worth $257,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. grew its stake in Infosys by 68.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock valued at $542,051,000 after buying an additional 9,923,744 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Infosys by 37.3% in the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock valued at $401,826,000 after purchasing an additional 5,862,144 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Infosys by 9.7% during the 3rd quarter. Fisher Asset Management LLC now owns 14,415,018 shares of the technology company’s stock valued at $321,022,000 after purchasing an additional 1,271,890 shares during the period. Millennium Management LLC lifted its holdings in Infosys by 67.9% during the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock worth $141,532,000 after purchasing an additional 3,074,432 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Infosys by 10.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,248,026 shares of the technology company’s stock worth $116,338,000 after purchasing an additional 570,435 shares during the period. Institutional investors own 16.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on INFY. Investec cut Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. BMO Capital Markets upped 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. StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Thursday. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, HSBC upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.85.

Infosys Stock Performance

NYSE INFY opened at $23.40 on Friday. Infosys Limited has a 52-week low of $16.04 and a 52-week high of $23.63. The company has a fifty day moving average of $22.30 and a 200-day moving average of $21.33. The company has a market capitalization of $96.92 billion, a P/E ratio of 30.00, a P/E/G ratio of 3.77 and a beta of 1.00.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. Infosys had a return on equity of 31.43% and a net margin of 17.15%. During the same quarter in the previous year, the company posted $0.18 earnings per share. As a group, analysts forecast that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were given a dividend of $0.2126 per share. This is a boost from Infosys’s previous semi-annual dividend of $0.20. This represents a yield of 1.1%. The ex-dividend date was Tuesday, October 29th. Infosys’s dividend payout ratio (DPR) is presently 53.85%.

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.