First Trust Direct Indexing L.P. Acquires 6,852 Shares of Infosys Limited (NYSE:INFY)

First Trust Direct Indexing L.P. grew its position in Infosys Limited (NYSE:INFY) by 9.8% in the third quarter, Holdings Channel.com reports. The fund owned 76,989 shares of the technology company’s stock after buying an additional 6,852 shares during the period. First Trust Direct Indexing L.P.’s holdings in Infosys were worth $1,715,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. abrdn plc increased its holdings in Infosys by 164.4% during the 3rd quarter. abrdn plc now owns 321,227 shares of the technology company’s stock valued at $7,123,000 after purchasing an additional 199,748 shares in the last quarter. Modera Wealth Management LLC increased its stake in shares of Infosys by 0.4% in the 3rd quarter. Modera Wealth Management LLC now owns 183,028 shares of the technology company’s stock valued at $4,076,000 after buying an additional 653 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Infosys by 188.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 87,794 shares of the technology company’s stock valued at $1,955,000 after buying an additional 57,400 shares during the period. Outlook Wealth Advisors LLC increased its stake in shares of Infosys by 3.0% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company’s stock valued at $399,000 after buying an additional 526 shares during the period. Finally, Ballentine Partners LLC increased its stake in shares of Infosys by 16.1% in the 3rd quarter. Ballentine Partners LLC now owns 77,517 shares of the technology company’s stock valued at $1,726,000 after buying an additional 10,770 shares during the period. Institutional investors own 10.89% of the company’s stock.

Analyst Ratings Changes

INFY has been the subject of several research reports. Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Investec lowered Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. BMO Capital Markets raised their target price on shares of Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.85.

Infosys Price Performance

Infosys stock opened at $20.90 on Friday. The business has a 50 day moving average of $22.64 and a 200-day moving average of $20.21. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.48. The company has a market capitalization of $86.56 billion, a P/E ratio of 26.79, a P/E/G ratio of 3.57 and a beta of 0.99.

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, hitting 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 prior year, the business earned $0.18 EPS. Equities analysts anticipate that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were given a $0.2126 dividend. This is a positive change 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%.

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.