Itau Unibanco Holding S.A. Purchases 24,282 Shares of Infosys Limited (NYSE:INFY)

Itau Unibanco Holding S.A. raised its position in Infosys Limited (NYSE:INFY) by 410.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,192 shares of the technology company’s stock after acquiring an additional 24,282 shares during the period. Itau Unibanco Holding S.A.’s holdings in Infosys were worth $672,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Mizuho Securities Co. Ltd. acquired a new stake in Infosys in the 3rd quarter valued at about $33,000. GAMMA Investing LLC lifted its stake in shares of 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 last quarter. Hilltop National Bank raised its stake in Infosys by 50.8% in the 2nd 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 in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of 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 acquiring an additional 1,693 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in Infosys in the 2nd quarter valued at approximately $162,000. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Price Performance

NYSE:INFY opened at $22.21 on Tuesday. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.48. The stock’s 50-day moving average is $22.23 and its two-hundred day moving average is $20.99. The stock has a market cap of $91.99 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00.

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

Infosys Increases Dividend

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

Wall Street Analysts Forecast Growth

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