Infosys Limited (NYSE:INFY) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its position in Infosys Limited (NYSE:INFY) by 27.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 871,551 shares of the technology company’s stock after buying an additional 185,300 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Infosys were worth $19,409,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of INFY. Tidal Investments LLC purchased a new stake in Infosys in the 1st quarter valued at $371,000. Virtu Financial LLC purchased a new stake in shares of Infosys in the first quarter valued at about $244,000. Cetera Advisors LLC acquired a new stake in shares of Infosys during the first quarter worth about $210,000. GAMMA Investing LLC grew its holdings in shares of Infosys by 22.6% during the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after buying an additional 541 shares during the last quarter. Finally, Somerset Trust Co increased its position in Infosys by 4.2% in the 2nd quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock valued at $282,000 after acquiring an additional 611 shares during the period. 10.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on INFY shares. BMO Capital Markets increased their price objective on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, Investec cut shares of Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Infosys currently has an average rating of “Hold” and a consensus target price of $20.85.

Infosys Stock Performance

Infosys stock opened at $22.07 on Friday. The company has a market cap of $91.41 billion, a P/E ratio of 28.29, a price-to-earnings-growth ratio of 3.67 and a beta of 1.00. Infosys Limited has a one year low of $16.04 and a one year high of $23.48. The business has a fifty day moving average of $22.23 and a two-hundred day moving average of $20.96.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. Infosys had a net margin of 17.15% and a return on equity of 31.43%. 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 business earned $0.18 earnings per share. Sell-side analysts predict that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were issued a $0.2126 dividend. The ex-dividend date was 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 currently 53.85%.

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.