Zurcher Kantonalbank Zurich Cantonalbank Acquires 107,291 Shares of Infosys Limited (NYSE:INFY)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Infosys Limited (NYSE:INFY) by 70.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 258,872 shares of the technology company’s stock after acquiring an additional 107,291 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Infosys were worth $5,765,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Robeco Institutional Asset Management B.V. lifted its position in Infosys by 68.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock worth $542,051,000 after acquiring an additional 9,923,744 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Infosys by 37.3% during the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock worth $401,826,000 after purchasing an additional 5,862,144 shares during the period. Fisher Asset Management LLC lifted its holdings in Infosys by 9.7% during the 3rd quarter. Fisher Asset Management LLC now owns 14,415,018 shares of the technology company’s stock worth $321,022,000 after purchasing an additional 1,271,890 shares during the last quarter. Millennium Management LLC grew its holdings in Infosys by 67.9% in the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock valued at $141,532,000 after buying an additional 3,074,432 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Infosys by 10.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,248,026 shares of the technology company’s stock worth $116,338,000 after buying an additional 570,435 shares during the period. 10.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

INFY has been the subject of a number of recent research reports. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. BMO Capital Markets boosted their price objective 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. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, Investec cut Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.85.

Infosys Price Performance

Shares of NYSE:INFY opened at $22.21 on Tuesday. The company’s 50 day simple moving average is $22.23 and its 200 day simple moving average is $20.99. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.48. The stock has a market capitalization of $91.99 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, hitting 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 in the previous year, the firm earned $0.18 EPS. As a group, analysts anticipate that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

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

Infosys Company 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.