Oppenheimer Asset Management Inc. Has $8.80 Million Stock Position in Infosys Limited (NYSE:INFY)

Oppenheimer Asset Management Inc. cut its stake in shares of Infosys Limited (NYSE:INFY) by 10.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 395,172 shares of the technology company’s stock after selling 46,791 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Infosys were worth $8,800,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Hilltop National Bank boosted its holdings in shares of Infosys by 50.8% in the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after buying an additional 1,004 shares during the last quarter. GAMMA Investing LLC increased its holdings in Infosys by 22.6% during the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after buying an additional 541 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Infosys by 126.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after acquiring an additional 1,693 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in Infosys in the second quarter valued at $162,000. Finally, Bank Pictet & Cie Europe AG bought a new position in shares of Infosys in the 2nd quarter valued at about $194,000. 10.89% of the stock is currently owned by institutional investors.

Infosys Price Performance

Shares of NYSE INFY opened at $22.05 on Thursday. The firm has a market cap of $91.31 billion, a price-to-earnings ratio of 28.26, a P/E/G ratio of 3.56 and a beta of 1.00. The stock’s fifty day moving average price is $22.40 and its two-hundred day moving average price is $20.51. Infosys Limited has a one year low of $16.04 and a one year high of $23.48.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. Infosys had a net margin of 17.15% and a return on equity of 31.43%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the business posted $0.18 earnings per share. On average, equities analysts anticipate that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were given a dividend of $0.2126 per share. This represents a dividend yield of 1.1%. The ex-dividend date was Tuesday, October 29th. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. Infosys’s dividend payout ratio is presently 53.85%.

Wall Street Analyst Weigh In

INFY has been the topic of a number of research analyst reports. Macquarie raised shares of 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 research note on Thursday, October 3rd. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. BMO Capital Markets boosted their target price on 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 raised Infosys from a “hold” rating to a “buy” rating in a report on Tuesday. Two 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.85.

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.