149,484 Shares in Infosys Limited (NYSE:INFY) Acquired by Surience Private Wealth LLC

Surience Private Wealth LLC bought a new stake in shares of Infosys Limited (NYSE:INFY) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 149,484 shares of the technology company’s stock, valued at approximately $3,329,000. Infosys makes up 3.4% of Surience Private Wealth LLC’s portfolio, making the stock its 13th largest position.

A number of other institutional investors also recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV grew its holdings in Infosys by 2.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock worth $328,000 after acquiring an additional 505 shares during the period. GAMMA Investing LLC grew its stake in shares of Infosys by 22.6% in the 2nd 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 last quarter. D Orazio & Associates Inc. raised its holdings in shares of Infosys by 4.1% in the 2nd quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock worth $274,000 after purchasing an additional 584 shares in the last quarter. Somerset Trust Co lifted its stake in Infosys by 4.2% during the second quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock valued at $282,000 after purchasing an additional 611 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Infosys by 25.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 3,795 shares of the technology company’s stock worth $85,000 after buying an additional 766 shares in the last quarter. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Stock Performance

Shares of INFY stock traded down $0.05 during trading hours on Tuesday, hitting $22.15. The company had a trading volume of 982,983 shares, compared to its average volume of 9,324,134. Infosys Limited has a 12 month low of $16.04 and a 12 month high of $23.48. The firm’s fifty day moving average is $22.69 and its 200 day moving average is $20.03. The firm has a market capitalization of $91.70 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 3.68 and a beta of 0.99.

Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. Infosys had a net margin of 17.18% and a return on equity of 32.01%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period in the previous year, the business earned $0.18 earnings per share. On average, sell-side analysts expect that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st will be paid a $0.2126 dividend. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, October 29th. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. Infosys’s dividend payout ratio (DPR) is 36.84%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on INFY shares. Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. 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. StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.85.

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.