Erste Asset Management GmbH Invests $10.75 Million in Infosys Limited (NYSE:INFY)

Erste Asset Management GmbH bought a new stake in Infosys Limited (NYSE:INFY) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 480,000 shares of the technology company’s stock, valued at approximately $10,747,000.

Other large investors also recently bought and sold shares of the company. Mizuho Securities Co. Ltd. purchased a new stake in shares of Infosys during the 3rd quarter worth about $33,000. GAMMA Investing LLC raised its position in Infosys by 22.6% in the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after purchasing an additional 541 shares during the period. Hilltop National Bank lifted its stake in shares of Infosys by 50.8% during the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after purchasing an additional 1,004 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Infosys by 126.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after buying an additional 1,693 shares during the period. Finally, Ridgewood Investments LLC purchased a new stake in shares of Infosys in the second quarter worth about $162,000. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on INFY shares. BMO Capital Markets boosted their price target on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. 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 investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Infosys has a consensus rating of “Hold” and an average target price of $20.85.

Infosys Price Performance

Shares of INFY stock opened at $22.07 on Monday. The firm has a fifty day moving average of $22.23 and a two-hundred day moving average of $20.99. The firm has a market cap of $91.41 billion, a P/E ratio of 28.29, a P/E/G ratio of 3.56 and a beta of 1.00. Infosys Limited has a 1-year low of $16.04 and a 1-year high of $23.48.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period in the prior year, the company posted $0.18 EPS. On average, sell-side analysts expect that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were paid a dividend of $0.2126 per share. This is an increase from Infosys’s previous semi-annual dividend of $0.20. This represents a yield of 1.1%. The ex-dividend date was Tuesday, October 29th. Infosys’s dividend payout ratio is presently 53.85%.

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.