Fisher Asset Management LLC Boosts Holdings in Infosys Limited (NYSE:INFY)

Fisher Asset Management LLC grew its position in Infosys Limited (NYSE:INFY) by 9.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 14,415,018 shares of the technology company’s stock after purchasing an additional 1,271,890 shares during the period. Fisher Asset Management LLC’s holdings in Infosys were worth $321,022,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in Infosys during the 3rd quarter worth $16,560,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Infosys during the second quarter worth about $529,000. Panagora Asset Management Inc. increased its holdings in shares of Infosys by 52.5% during the second quarter. Panagora Asset Management Inc. now owns 1,010,512 shares of the technology company’s stock valued at $18,816,000 after acquiring an additional 348,018 shares in the last quarter. Millennium Management LLC raised its position in shares of Infosys by 67.9% in the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock valued at $141,532,000 after purchasing an additional 3,074,432 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Infosys by 186.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,186,685 shares of the technology company’s stock worth $48,697,000 after purchasing an additional 1,422,814 shares in the last quarter. 10.89% of the stock is owned by institutional investors and hedge funds.

Infosys Stock Up 3.8 %

Infosys stock opened at $22.79 on Monday. The business’s 50-day moving average price is $22.24 and its 200 day moving average price is $20.79. The firm has a market cap of $94.39 billion, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 3.68 and a beta of 1.00. Infosys Limited has a 52 week low of $16.04 and a 52 week high of $23.48.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. Infosys had a net margin of 17.15% and a return on equity of 31.43%. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter last year, the company earned $0.18 EPS. Equities analysts expect that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were given a $0.2126 dividend. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a dividend yield of 1.1%. This is an increase from Infosys’s previous semi-annual dividend of $0.20. Infosys’s dividend payout ratio is 53.85%.

Analyst Ratings Changes

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

About Infosys

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.