Empower Advisory Group LLC Acquires 3,820 Shares of Infosys Limited (NYSE:INFY)

Empower Advisory Group LLC boosted its holdings in Infosys Limited (NYSE:INFY) by 23.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,120 shares of the technology company’s stock after acquiring an additional 3,820 shares during the quarter. Empower Advisory Group LLC’s holdings in Infosys were worth $448,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. GAMMA Investing LLC lifted its position in 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 buying an additional 541 shares during the last quarter. Hilltop National Bank boosted its stake in shares of Infosys by 50.8% in the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after purchasing an additional 1,004 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in 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 valued at $56,000 after buying an additional 1,693 shares during the period. Ridgewood Investments LLC purchased a new position in shares of Infosys in the second quarter worth about $162,000. Finally, Advisor Resource Council bought a new stake in shares of Infosys in the 3rd quarter valued at about $202,000. Institutional investors own 10.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on INFY shares. Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Tuesday. BMO Capital Markets upped 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, October 18th. Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Infosys currently has a consensus rating of “Hold” and a consensus target price of $20.85.

Infosys Price Performance

Shares of INFY opened at $21.82 on Friday. Infosys Limited has a one year low of $16.04 and a one year high of $23.48. The company has a 50-day simple moving average of $22.38 and a two-hundred day simple moving average of $20.52. The firm has a market capitalization of $90.37 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00.

Infosys (NYSE:INFY) last released its earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Infosys had a return on equity of 31.43% and a net margin of 17.15%. During the same quarter last year, the business posted $0.18 EPS. Analysts expect that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

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