Soltis Investment Advisors LLC Invests $710,000 in Infosys Limited (NYSE:INFY)

Soltis Investment Advisors LLC purchased a new stake in Infosys Limited (NYSE:INFY) during the 1st quarter, Holdings Channel.com reports. The fund purchased 39,610 shares of the technology company’s stock, valued at approximately $710,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Buckingham Capital Management Inc. lifted its position in Infosys by 0.6% during the 4th quarter. Buckingham Capital Management Inc. now owns 87,324 shares of the technology company’s stock worth $1,605,000 after acquiring an additional 499 shares in the last quarter. GAMMA Investing LLC grew its holdings in Infosys by 33.0% during the 1st quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock valued at $43,000 after purchasing an additional 593 shares in the last quarter. Drive Wealth Management LLC increased its stake in 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 buying an additional 707 shares during the period. D Orazio & Associates Inc. lifted its holdings in Infosys by 7.5% in the 4th quarter. D Orazio & Associates Inc. now owns 14,125 shares of the technology company’s stock worth $260,000 after buying an additional 983 shares in the last quarter. Finally, Ieq Capital LLC boosted its position in Infosys by 10.0% in the 4th quarter. Ieq Capital LLC now owns 12,130 shares of the technology company’s stock valued at $223,000 after buying an additional 1,103 shares during the last quarter. 10.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INFY has been the topic of a number of analyst reports. Susquehanna dropped their target price on Infosys from $15.00 to $14.00 and set a “negative” rating on the stock in a research report on Friday, April 19th. HSBC reaffirmed a “hold” rating and issued a $20.10 target price on shares of Infosys in a research report on Friday, April 19th. StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Bank of America raised shares of Infosys from a “neutral” rating to a “buy” rating in a report on Tuesday, April 9th. Finally, BMO Capital Markets cut their target price on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a research note on Friday, April 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $19.27.

Infosys Trading Down 2.4 %

Infosys stock traded down $0.53 during midday trading on Friday, reaching $21.77. 10,940,913 shares of the stock traded hands, compared to its average volume of 13,156,829. The firm has a fifty day moving average price of $19.29 and a two-hundred day moving average price of $18.83. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $22.94. The firm has a market cap of $90.17 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 3.53 and a beta of 0.98.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. Infosys had a return on equity of 32.01% and a net margin of 17.18%. The business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the previous year, the firm posted $0.17 earnings per share. Analysts anticipate that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Cuts Dividend

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