Waldron Private Wealth LLC Increases Stake in Infosys Limited (NYSE:INFY)

Waldron Private Wealth LLC increased its holdings in Infosys Limited (NYSE:INFY) by 20.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,422 shares of the technology company’s stock after buying an additional 3,093 shares during the quarter. Waldron Private Wealth LLC’s holdings in Infosys were worth $410,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV grew its stake in shares of Infosys by 2.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock worth $328,000 after purchasing an additional 505 shares during the period. GAMMA Investing LLC grew 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 purchasing an additional 541 shares during the period. D Orazio & Associates Inc. grew its stake in shares of Infosys by 4.1% during 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 during the period. Somerset Trust Co grew its stake in shares of Infosys by 4.2% during the 2nd quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock worth $282,000 after purchasing an additional 611 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of Infosys by 25.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,795 shares of the technology company’s stock valued at $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 Price Performance

Shares of NYSE INFY opened at $22.16 on Wednesday. The company has a 50 day simple moving average of $22.70 and a 200-day simple moving average of $20.06. The company has a market capitalization of $91.74 billion, a P/E ratio of 29.16, a P/E/G ratio of 3.68 and a beta of 0.99. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.48.

Infosys (NYSE:INFY) last announced its quarterly earnings results 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 net margin of 17.18% and a return on equity of 32.01%. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter last year, the firm earned $0.18 EPS. As a group, research analysts expect that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, October 29th. Investors of record on Friday, January 1st will be issued 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 an increase from Infosys’s previous semi-annual dividend of $0.20. Infosys’s payout ratio is currently 36.84%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INFY. BMO Capital Markets increased their target price on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Investec lowered Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Finally, StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned 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.