Modera Wealth Management LLC Boosts Stock Holdings in Infosys Limited (NYSE:INFY)

Modera Wealth Management LLC increased its position in Infosys Limited (NYSE:INFY) by 0.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 183,028 shares of the technology company’s stock after acquiring an additional 653 shares during the period. Modera Wealth Management LLC’s holdings in Infosys were worth $4,076,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board increased its holdings in shares of Infosys by 37.3% in the 2nd 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 in the last quarter. Millennium Management LLC increased 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 worth $141,532,000 after buying an additional 3,074,432 shares in the last quarter. Acadian Asset Management LLC raised its position in Infosys by 106.1% in the 1st quarter. Acadian Asset Management LLC now owns 4,839,764 shares of the technology company’s stock worth $86,764,000 after buying an additional 2,491,403 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Infosys by 46.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company’s stock valued at $97,467,000 after acquiring an additional 1,648,650 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Infosys by 49.3% during the 1st quarter. BNP Paribas Financial Markets now owns 3,741,065 shares of the technology company’s stock valued at $67,077,000 after acquiring an additional 1,235,140 shares during the last quarter. 10.89% of the stock is owned by institutional investors.

Infosys Stock Performance

NYSE INFY opened at $21.89 on Monday. The business’s fifty day moving average is $22.71 and its 200 day moving average is $20.15. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.48. The company has a market capitalization of $90.62 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 3.57 and a beta of 0.99.

Infosys (NYSE:INFY) last posted its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. The firm had revenue of $4.89 billion for 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 period in the previous year, the firm earned $0.18 EPS. On average, sell-side analysts forecast that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st will be paid a $0.2126 dividend. The ex-dividend date of this dividend is Tuesday, October 29th. This is a boost from Infosys’s previous semi-annual dividend of $0.20. This represents a dividend yield of 1.1%. Infosys’s dividend payout ratio is 55.26%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on INFY. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a report on Monday, October 21st. BMO Capital Markets boosted their target price on shares of Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Investec lowered Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.85.

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.