MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Boosts Holdings in Infosys Limited (NYSE:INFY)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in shares of Infosys Limited (NYSE:INFY) by 8.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 342,755 shares of the technology company’s stock after buying an additional 27,056 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Infosys were worth $6,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new position in shares of Infosys during the 4th quarter worth approximately $36,000. Planned Solutions Inc. bought a new position in Infosys in the fourth quarter worth $50,000. Jones Financial Companies Lllp bought a new stake in shares of Infosys during the 4th quarter valued at $56,000. EverSource Wealth Advisors LLC grew its position in shares of Infosys by 113.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,130 shares of the technology company’s stock worth $58,000 after buying an additional 1,663 shares during the period. Finally, Hennessy Advisors Inc. bought a new position in shares of Infosys in the 4th quarter worth about $123,000. 10.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on INFY shares. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. HSBC reiterated a “hold” rating and set a $20.10 price objective on shares of Infosys in a research note on Friday, April 19th. BMO Capital Markets cut their target price on Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a research note on Friday, April 19th. Bank of America raised Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. Finally, Guggenheim assumed coverage on shares of Infosys in a research report on Tuesday, March 19th. They set a “neutral” rating and a $20.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Infosys presently has a consensus rating of “Hold” and a consensus target price of $19.27.

Infosys Stock Up 2.5 %

NYSE:INFY traded up $0.47 during mid-day trading on Tuesday, hitting $19.23. 10,526,800 shares of the stock traded hands, compared to its average volume of 9,383,417. The stock has a market capitalization of $79.61 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 3.43 and a beta of 0.98. Infosys Limited has a 52 week low of $15.33 and a 52 week high of $20.74. The firm’s 50 day moving average is $17.41 and its two-hundred day moving average is $18.43.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. Infosys had a return on equity of 32.33% and a net margin of 17.06%. The firm had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same period in the prior year, the business posted $0.18 earnings per share. As a group, research analysts predict that Infosys Limited will post 0.75 EPS for the current year.

Infosys Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 31st were paid a dividend of $0.2035 per share. This represents a dividend yield of 1.4%. The ex-dividend date was Friday, May 31st. Infosys’s dividend payout ratio is currently 38.16%.

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.