Moran Wealth Management LLC Has $3.88 Million Stake in Infosys Limited (NYSE:INFY)

Moran Wealth Management LLC decreased its position in shares of Infosys Limited (NYSE:INFY) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,149 shares of the technology company’s stock after selling 1,786 shares during the quarter. Moran Wealth Management LLC’s holdings in Infosys were worth $3,878,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of INFY. Mizuho Securities Co. Ltd. acquired a new position in Infosys during the 3rd quarter worth about $33,000. GAMMA Investing LLC lifted its holdings in Infosys by 22.6% during the 2nd 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 period. Hilltop National Bank lifted its holdings in Infosys by 50.8% during the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after buying an additional 1,004 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in Infosys by 126.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after buying an additional 1,693 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in shares of Infosys during the 2nd quarter valued at about $162,000. Institutional investors and hedge funds own 10.89% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on INFY. Investec lowered Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. BMO Capital Markets increased their price objective on shares of 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 research note on Wednesday. Finally, Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.85.

Infosys Trading Up 1.2 %

Shares of Infosys stock opened at $22.00 on Thursday. The stock has a fifty day simple moving average of $22.27 and a 200 day simple moving average of $20.69. Infosys Limited has a 12-month low of $16.04 and a 12-month high of $23.48. The company has a market capitalization of $91.10 billion, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 3.51 and a beta of 1.00.

Infosys (NYSE:INFY) last announced its earnings results 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 company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. On average, analysts predict that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were paid a $0.2126 dividend. This represents a dividend yield of 1.1%. The ex-dividend date was Tuesday, October 29th. This is an increase from Infosys’s previous semi-annual dividend of $0.20. Infosys’s payout ratio 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.