Infosys Limited (NYSE:INFY) Shares Bought by Assetmark Inc.

Assetmark Inc. grew its holdings in shares of Infosys Limited (NYSE:INFY) by 37.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 25,963 shares of the technology company’s stock after buying an additional 7,066 shares during the period. Assetmark Inc.’s holdings in Infosys were worth $578,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Summit Global Investments increased its position in Infosys by 29.9% during the 3rd quarter. Summit Global Investments now owns 127,655 shares of the technology company’s stock worth $2,843,000 after purchasing an additional 29,375 shares during the period. Bridgewater Advisors Inc. grew its holdings in shares of Infosys by 12.4% in the 3rd quarter. Bridgewater Advisors Inc. now owns 31,142 shares of the technology company’s stock worth $678,000 after acquiring an additional 3,439 shares during the period. Advisor Resource Council acquired a new stake in shares of Infosys in the 3rd quarter worth approximately $202,000. World Equity Group Inc. acquired a new stake in shares of Infosys in the 3rd quarter worth approximately $283,000. Finally, QRG Capital Management Inc. grew its holdings in shares of Infosys by 32.5% in the 3rd quarter. QRG Capital Management Inc. now owns 52,946 shares of the technology company’s stock worth $1,179,000 after acquiring an additional 12,991 shares during the period. Institutional investors and hedge funds own 10.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. StockNews.com upgraded Infosys from a “hold” rating to a “buy” rating in a report on Tuesday. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. BMO Capital Markets upped their price target on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Investec cut Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Infosys presently has a consensus rating of “Hold” and an average price target of $20.85.

Infosys Stock Down 1.4 %

Shares of Infosys stock opened at $21.53 on Friday. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.48. The firm has a market cap of $89.15 billion, a PE ratio of 27.60, a P/E/G ratio of 3.56 and a beta of 1.00. The business’s fifty day moving average is $22.35 and its two-hundred day moving average is $20.53.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the prior year, the company posted $0.18 EPS. Equities research analysts anticipate 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 was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were issued a dividend of $0.2126 per share. This represents a dividend yield of 1.1%. This is an increase from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date was Tuesday, October 29th. Infosys’s dividend payout ratio is presently 53.85%.

About Infosys

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.