SRN Advisors LLC Increases Stock Position in Infosys Limited (NYSE:INFY)

SRN Advisors LLC raised its stake in shares of Infosys Limited (NYSE:INFY) by 20.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 68,312 shares of the technology company’s stock after buying an additional 11,593 shares during the period. SRN Advisors LLC’s holdings in Infosys were worth $1,225,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in INFY. GAMMA Investing LLC purchased a new stake in Infosys during the 4th quarter valued at $36,000. Jones Financial Companies Lllp purchased a new stake in Infosys during the 4th quarter valued at $56,000. EverSource Wealth Advisors LLC raised its stake in Infosys by 113.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,130 shares of the technology company’s stock valued at $58,000 after buying an additional 1,663 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in Infosys during the 4th quarter valued at $123,000. Finally, Confluence Investment Management LLC purchased a new stake in Infosys during the 1st quarter valued at $189,000. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. HSBC reiterated a “hold” rating and set a $20.10 target price on shares of Infosys in a research note on Friday, April 19th. Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. BMO Capital Markets cut their price objective on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a research 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. Finally, Susquehanna cut their price objective on shares of Infosys from $15.00 to $14.00 and set a “negative” rating for the company in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Infosys currently has an average rating of “Hold” and an average target price of $19.27.

Infosys Trading Down 2.4 %

Infosys stock traded down $0.53 during mid-day trading on Friday, hitting $21.77. The stock had a trading volume of 10,940,913 shares, compared to its average volume of 13,156,829. The firm has a market capitalization of $90.17 billion, a P/E ratio of 28.64, a P/E/G ratio of 3.53 and a beta of 0.98. The firm’s 50 day moving average is $19.29 and its 200 day moving average is $18.83. Infosys Limited has a one year low of $16.04 and a one year high of $22.94.

Infosys (NYSE:INFY) last released its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Infosys had a net margin of 17.18% and a return on equity of 32.01%. The business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the firm earned $0.17 EPS. As a group, equities research analysts forecast that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 31st were issued a dividend of $0.2035 per share. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, May 31st. Infosys’s dividend payout ratio (DPR) is presently 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.