Infosys Limited (NYSE:INFY) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Infosys Limited (NYSE:INFY) by 186.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,186,685 shares of the technology company’s stock after acquiring an additional 1,422,814 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.05% of Infosys worth $48,697,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INFY. International Assets Investment Management LLC acquired a new position in Infosys during the 3rd quarter worth $16,560,000. Baader Bank Aktiengesellschaft bought a new position in shares of Infosys during the second quarter worth about $529,000. Panagora Asset Management Inc. grew its stake in Infosys by 52.5% in the second quarter. Panagora Asset Management Inc. now owns 1,010,512 shares of the technology company’s stock worth $18,816,000 after purchasing an additional 348,018 shares in the last quarter. Millennium Management LLC increased its holdings in Infosys by 67.9% in the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock valued at $141,532,000 after buying an additional 3,074,432 shares during the last quarter. Finally, Earnest Partners LLC raised its stake in Infosys by 20.7% during the second quarter. Earnest Partners LLC now owns 147,862 shares of the technology company’s stock valued at $2,753,000 after buying an additional 25,392 shares in the last quarter. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Infosys Trading Up 0.6 %

NYSE INFY opened at $21.74 on Wednesday. The company has a 50-day moving average price of $22.29 and a two-hundred day moving average price of $20.68. The stock has a market cap of $90.04 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 3.48 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 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period in the prior year, the company posted $0.18 EPS. As a group, equities research analysts expect that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were given 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 payout ratio is 53.85%.

Analyst Ratings Changes

INFY has been the subject of several research reports. BMO Capital Markets lifted their target price on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a report on Wednesday. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Infosys presently has an average 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.