Baillie Gifford & Co. lifted its stake in shares of Infosys Limited (NYSE:INFY – Free Report) by 4.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,089,058 shares of the technology company’s stock after acquiring an additional 135,911 shares during the quarter. Baillie Gifford & Co.’s holdings in Infosys were worth $68,793,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. lifted its holdings in Infosys by 68.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock valued at $542,051,000 after acquiring an additional 9,923,744 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Infosys by 37.3% during the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock valued at $401,826,000 after purchasing an additional 5,862,144 shares during the last quarter. Millennium Management LLC lifted 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 valued at $141,532,000 after purchasing an additional 3,074,432 shares during the last quarter. Bank of New York Mellon Corp grew its position in Infosys by 10.0% in the second quarter. Bank of New York Mellon Corp now owns 6,248,026 shares of the technology company’s stock worth $116,338,000 after buying an additional 570,435 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Infosys by 13.4% in the second quarter. Dimensional Fund Advisors LP now owns 6,040,195 shares of the technology company’s stock valued at $112,481,000 after buying an additional 715,812 shares in the last quarter. Institutional investors own 10.89% of the company’s stock.
Analyst Ratings Changes
INFY has been the subject of several research reports. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. StockNews.com upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Tuesday. BMO Capital Markets boosted their price objective on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Investec cut shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $20.85.
Infosys Stock Performance
INFY stock opened at $22.01 on Wednesday. The stock has a market cap of $91.16 billion, a P/E ratio of 28.22, a P/E/G ratio of 3.56 and a beta of 1.00. The firm has a 50 day simple moving average of $22.42 and a 200 day simple moving average of $20.47. Infosys Limited has a 52 week low of $16.04 and a 52 week high of $23.48.
Infosys (NYSE:INFY – Get Free Report) last issued its 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. Infosys had a net margin of 17.15% and a return on equity of 31.43%. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the business posted $0.18 EPS. Sell-side analysts predict that Infosys Limited will post 0.75 EPS for the current year.
Infosys Increases Dividend
The company also recently announced 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 positive change 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 presently 53.85%.
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.
Recommended Stories
- Five stocks we like better than Infosys
- 3 REITs to Buy and Hold for the Long Term
- Home Depot Stock: Targeting 12% in 2024 and 25% More in 2025
- How to Capture the Benefits of Dividend Increases
- Is Tesla’s Valuation a Bubble or Backed by Real Growth?
- Energy and Oil Stocks Explained
- Trucking Stocks Led the Pack Last Week: Can They Keep Rolling?
Want to see what other hedge funds are holding INFY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Infosys Limited (NYSE:INFY – Free Report).
Receive News & Ratings for Infosys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infosys and related companies with MarketBeat.com's FREE daily email newsletter.