William Blair Investment Management LLC Acquires 1,009,126 Shares of Infosys Limited (NYSE:INFY)

William Blair Investment Management LLC lifted its holdings in shares of Infosys Limited (NYSE:INFY) by 28.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,602,379 shares of the technology company’s stock after purchasing an additional 1,009,126 shares during the period. William Blair Investment Management LLC’s holdings in Infosys were worth $82,520,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Infosys by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,360,152 shares of the technology company’s stock worth $98,547,000 after acquiring an additional 209,675 shares during the last quarter. BNP Paribas bought a new stake in Infosys in the 1st quarter worth $1,169,000. Vanguard Group Inc. grew its holdings in Infosys by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock worth $139,327,000 after acquiring an additional 180,888 shares during the last quarter. Alberta Investment Management Corp grew its holdings in Infosys by 118.6% in the 4th quarter. Alberta Investment Management Corp now owns 1,328,956 shares of the technology company’s stock worth $24,426,000 after acquiring an additional 720,885 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Infosys in the 4th quarter worth $878,000. Institutional investors own 10.89% of the company’s stock.

Wall Street Analyst Weigh In

INFY has been the topic of a number of recent analyst reports. Guggenheim initiated coverage on shares of Infosys in a report on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 price target on the stock. BMO Capital Markets cut their price target on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a report on Friday, April 19th. Bank of America raised shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Tuesday, July 9th. Finally, HSBC reaffirmed a “hold” rating and issued a $20.10 target price on shares of Infosys in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.27.

Infosys Price Performance

NYSE INFY traded down $0.14 during trading hours on Wednesday, reaching $20.53. 14,388,211 shares of the company’s stock traded hands, compared to its average volume of 9,527,598. Infosys Limited has a 52-week low of $15.33 and a 52-week high of $20.74. The firm has a market cap of $84.97 billion, a PE ratio of 27.14, a PEG ratio of 3.74 and a beta of 0.98. The firm has a 50-day simple moving average of $18.02 and a 200 day simple moving average of $18.51.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Infosys had a net margin of 17.06% and a return on equity of 32.33%. The company had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same period last year, the company posted $0.18 EPS. Sell-side analysts forecast that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 31st were given a dividend of $0.2035 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a yield of 1.4%. Infosys’s dividend payout ratio (DPR) is currently 38.16%.

Infosys Profile

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.