Infosys Limited (NYSE:INFY) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its position in Infosys Limited (NYSE:INFY) by 2.6% in the third quarter, HoldingsChannel.com reports. The firm owned 74,570 shares of the technology company’s stock after purchasing an additional 1,888 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Infosys were worth $1,661,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV increased its holdings in shares of Infosys by 2.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock valued at $328,000 after buying an additional 505 shares in the last quarter. Outlook Wealth Advisors LLC increased its holdings in shares of Infosys by 3.0% in the third 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 in the last quarter. GAMMA Investing LLC increased its holdings in shares of Infosys by 22.6% in the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after buying an additional 541 shares in the last quarter. D Orazio & Associates Inc. increased its holdings in shares of Infosys by 4.1% in the second quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock valued at $274,000 after buying an additional 584 shares in the last quarter. Finally, Somerset Trust Co increased its holdings in shares of Infosys by 4.2% in the second quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock valued at $282,000 after buying an additional 611 shares in the last quarter. 10.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on INFY. StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Finally, 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. Two equities research 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.85.

Infosys Trading Up 1.4 %

Shares of NYSE:INFY opened at $23.17 on Wednesday. The stock has a market capitalization of $95.97 billion, a PE ratio of 29.71, a P/E/G ratio of 3.68 and a beta of 1.00. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.48. The firm has a fifty day moving average price of $22.24 and a 200 day moving average price of $20.87.

Infosys (NYSE:INFY) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $4.89 billion. Infosys had a net margin of 17.15% and a return on equity of 31.43%. During the same period in the prior year, the company posted $0.18 earnings per share. On average, sell-side 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. Investors of record on Friday, January 1st were issued a $0.2126 dividend. The ex-dividend date of this dividend 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 is currently 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.