Adero Partners LLC Buys New Position in Infosys Limited (NYSE:INFY)

Adero Partners LLC bought a new stake in shares of Infosys Limited (NYSE:INFY) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,694 shares of the technology company’s stock, valued at approximately $283,000.

Several other large investors also recently added to or reduced their stakes in INFY. Mizuho Securities Co. Ltd. bought a new stake in Infosys during the third quarter valued at approximately $33,000. Hilltop National Bank boosted its position in shares of Infosys by 50.8% in the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after purchasing an additional 1,004 shares during the period. GAMMA Investing LLC boosted its position in shares of Infosys by 22.6% in the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after purchasing an additional 541 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Infosys by 126.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after purchasing an additional 1,693 shares during the period. Finally, Ridgewood Investments LLC bought a new position in shares of Infosys in the second quarter worth approximately $162,000. 10.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on INFY. Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. StockNews.com upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, BMO Capital Markets upped their price target 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. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Infosys presently has an average rating of “Hold” and a consensus target price of $20.85.

Infosys Stock Down 1.3 %

Infosys stock opened at $21.53 on Monday. The company has a market cap of $89.17 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 3.48 and a beta of 1.00. The firm’s fifty day moving average is $22.33 and its 200 day moving average is $20.61. Infosys Limited has a 52-week low of $16.04 and a 52-week high of $23.48.

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

Infosys Increases Dividend

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