Advisor Resource Council Acquires Shares of 9,065 Infosys Limited (NYSE:INFY)

Advisor Resource Council acquired a new stake in Infosys Limited (NYSE:INFY) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,065 shares of the technology company’s stock, valued at approximately $202,000.

A number of other institutional investors also recently added to or reduced their stakes in INFY. Robeco Institutional Asset Management B.V. boosted its holdings in Infosys by 68.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock valued at $542,051,000 after purchasing an additional 9,923,744 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in Infosys by 37.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock valued at $401,826,000 after purchasing an additional 5,862,144 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Infosys by 67.9% during the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock worth $141,532,000 after acquiring an additional 3,074,432 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Infosys by 106.1% during the 1st quarter. Acadian Asset Management LLC now owns 4,839,764 shares of the technology company’s stock worth $86,764,000 after acquiring an additional 2,491,403 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Infosys by 46.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company’s stock worth $97,467,000 after acquiring an additional 1,648,650 shares in the last quarter. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Investec lowered Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, BMO Capital Markets boosted their price target on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.85.

Infosys Stock Performance

Shares of INFY opened at $21.65 on Friday. The stock has a fifty day moving average of $22.50 and a two-hundred day moving average of $20.35. The company has a market capitalization of $89.65 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 3.34 and a beta of 1.00. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.48.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a return on equity of 31.43% and a net margin of 17.15%. During the same period in the previous year, the firm posted $0.18 EPS. As a group, equities research analysts forecast that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were issued a dividend of $0.2126 per share. This represents a dividend yield of 1.1%. This is an increase from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date was Tuesday, October 29th. Infosys’s dividend payout ratio is presently 55.13%.

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.