Infosys Limited (NYSE:INFY) Stock Position Raised by Acadian Asset Management LLC

Acadian Asset Management LLC raised its position in shares of Infosys Limited (NYSE:INFY) by 106.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,839,764 shares of the technology company’s stock after purchasing an additional 2,491,403 shares during the period. Acadian Asset Management LLC owned 0.12% of Infosys worth $86,764,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Buckingham Capital Management Inc. grew its holdings in Infosys by 0.6% in the 4th quarter. Buckingham Capital Management Inc. now owns 87,324 shares of the technology company’s stock valued at $1,605,000 after buying an additional 499 shares during the last quarter. HB Wealth Management LLC grew its holdings in shares of Infosys by 5.7% during the 4th quarter. HB Wealth Management LLC now owns 10,661 shares of the technology company’s stock worth $196,000 after purchasing an additional 575 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Infosys by 33.0% during the 1st quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock worth $43,000 after purchasing an additional 593 shares in the last quarter. Drive Wealth Management LLC grew its holdings in shares of Infosys by 6.1% during the 4th quarter. Drive Wealth Management LLC now owns 12,354 shares of the technology company’s stock worth $227,000 after purchasing an additional 707 shares in the last quarter. Finally, D Orazio & Associates Inc. grew its holdings in shares of Infosys by 7.5% during the 4th quarter. D Orazio & Associates Inc. now owns 14,125 shares of the technology company’s stock worth $260,000 after purchasing an additional 983 shares in the last quarter. 10.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INFY has been the topic of several recent research reports. Bank of America raised Infosys from a “neutral” rating to a “buy” rating in a report on Tuesday, April 9th. BMO Capital Markets decreased their price objective on Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a report on Friday, April 19th. HSBC reissued a “hold” rating and set a $20.10 price objective on shares of Infosys in a report on Friday, April 19th. Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday. Finally, StockNews.com raised Infosys from a “hold” rating to a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Infosys presently has a consensus rating of “Hold” and a consensus target price of $19.27.

Infosys Stock Down 2.6 %

INFY traded down $0.57 during trading on Friday, hitting $21.68. The company’s stock had a trading volume of 16,443,577 shares, compared to its average volume of 11,934,494. The firm’s 50 day moving average price is $18.29 and its two-hundred day moving average price is $18.58. Infosys Limited has a 12 month low of $15.33 and a 12 month high of $22.61. The stock has a market capitalization of $89.75 billion, a price-to-earnings ratio of 28.53, a price-to-earnings-growth ratio of 4.01 and a beta of 0.98.

Infosys (NYSE:INFY) last released its earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. The company had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.67 billion. Infosys had a return on equity of 32.00% and a net margin of 17.18%. During the same quarter in the previous year, the company posted $0.17 earnings per share. On average, sell-side analysts forecast that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 31st were given a dividend of $0.2035 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a dividend yield of 1.4%. Infosys’s payout ratio is currently 38.16%.

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.