Infosys Limited (NYSE:INFY) Stock Position Reduced by StoneX Group Inc.

StoneX Group Inc. decreased its position in Infosys Limited (NYSE:INFY) by 4.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,939 shares of the technology company’s stock after selling 2,052 shares during the quarter. StoneX Group Inc.’s holdings in Infosys were worth $979,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in Infosys during the third quarter valued at $16,560,000. Baader Bank Aktiengesellschaft bought a new stake in shares of Infosys during the 2nd quarter valued at about $529,000. Panagora Asset Management Inc. raised its stake in Infosys by 52.5% during the second quarter. Panagora Asset Management Inc. now owns 1,010,512 shares of the technology company’s stock worth $18,816,000 after acquiring an additional 348,018 shares during the period. Millennium Management LLC raised its stake in Infosys by 67.9% during the second 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 during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Infosys by 186.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,186,685 shares of the technology company’s stock worth $48,697,000 after acquiring an additional 1,422,814 shares during the last quarter. 10.89% of the stock is currently owned by institutional investors.

Infosys Trading Up 3.8 %

Infosys stock opened at $22.79 on Monday. Infosys Limited has a 52 week low of $16.04 and a 52 week high of $23.48. The stock has a market cap of $94.39 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 3.55 and a beta of 1.00. The company’s 50-day moving average price is $22.24 and its two-hundred day moving average price is $20.79.

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

Infosys Increases Dividend

The company also recently announced 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. The ex-dividend date was Tuesday, October 29th. This represents a yield of 1.1%. This is a boost from Infosys’s previous semi-annual dividend of $0.20. Infosys’s dividend payout ratio (DPR) is currently 53.85%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on INFY. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Investec lowered Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. BMO Capital Markets boosted their price target on shares of Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Two research 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. Based on data from MarketBeat, Infosys has an average rating of “Hold” and a consensus price target 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.