B. Metzler seel. Sohn & Co. Holding AG Buys New Position in Infosys Limited (NYSE:INFY)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Infosys Limited (NYSE:INFY) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 261,554 shares of the technology company’s stock, valued at approximately $5,825,000.

A number of other institutional investors also recently made changes to their positions in the stock. Mizuho Securities Co. Ltd. bought a new position in shares of Infosys during the 3rd quarter valued at about $33,000. GAMMA Investing LLC increased its holdings in shares of Infosys by 22.6% in the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after buying an additional 541 shares in the last quarter. Hilltop National Bank boosted its stake in shares of Infosys by 50.8% during the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after acquiring an additional 1,004 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Infosys by 126.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after purchasing an additional 1,693 shares during the period. Finally, Ridgewood Investments LLC acquired a new position in shares of Infosys in the 2nd quarter valued at $162,000. 10.89% of the stock is owned by institutional investors and hedge funds.

Infosys Price Performance

Shares of Infosys stock opened at $21.74 on Wednesday. The stock has a 50-day simple moving average of $22.29 and a 200-day simple moving average of $20.68. Infosys Limited has a 52-week low of $16.04 and a 52-week high of $23.48. The firm has a market cap of $90.04 billion, a price-to-earnings ratio of 27.87, a P/E/G ratio of 3.48 and a beta of 1.00.

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

Infosys Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were issued a dividend of $0.2126 per share. 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 was Tuesday, October 29th. Infosys’s dividend payout ratio (DPR) is 53.85%.

Analysts Set New Price Targets

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