Citigroup Inc. Has $20.01 Million Stock Position in Infosys Limited (NYSE:INFY)

Citigroup Inc. lifted its position in shares of Infosys Limited (NYSE:INFY) by 114.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 898,538 shares of the technology company’s stock after purchasing an additional 479,116 shares during the quarter. Citigroup Inc.’s holdings in Infosys were worth $20,010,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA increased its stake in Infosys by 7.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,647,992 shares of the technology company’s stock valued at $36,701,000 after acquiring an additional 107,947 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Infosys by 6.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 310,971 shares of the technology company’s stock valued at $6,925,000 after purchasing an additional 20,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Infosys by 186.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,186,685 shares of the technology company’s stock valued at $48,697,000 after purchasing an additional 1,422,814 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of Infosys during the 3rd quarter worth approximately $350,000. Finally, PNC Financial Services Group Inc. boosted its stake in Infosys by 2.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 74,570 shares of the technology company’s stock valued at $1,661,000 after buying an additional 1,888 shares in the last quarter. 10.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

INFY has been the subject of a number of recent analyst reports. BMO Capital Markets increased their target price on shares of Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, Investec downgraded Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.85.

Infosys Stock Performance

NYSE INFY opened at $23.17 on Wednesday. Infosys Limited has a 52 week low of $16.04 and a 52 week high of $23.48. The stock has a market capitalization of $95.97 billion, a P/E ratio of 29.71, a price-to-earnings-growth ratio of 3.68 and a beta of 1.00. The stock has a fifty day moving average of $22.24 and a 200-day moving average of $20.87.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. The firm 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 period in the previous year, the business posted $0.18 EPS. Equities research analysts forecast that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

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