Adero Partners LLC Takes $283,000 Position in Infosys Limited (NYSE:INFY)

Adero Partners LLC bought a new stake in shares of Infosys Limited (NYSE:INFY) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,694 shares of the technology company’s stock, valued at approximately $283,000.

A number of other large investors have also recently modified their holdings of the stock. Natixis Advisors LLC boosted its stake in shares of Infosys by 63.5% during the 3rd quarter. Natixis Advisors LLC now owns 266,942 shares of the technology company’s stock valued at $5,945,000 after purchasing an additional 103,659 shares in the last quarter. Cable Hill Partners LLC lifted its position in Infosys by 29.0% during the 3rd quarter. Cable Hill Partners LLC now owns 16,874 shares of the technology company’s stock valued at $376,000 after acquiring an additional 3,790 shares during the period. Mizuho Securities Co. Ltd. purchased a new position in Infosys during the 3rd quarter valued at about $33,000. D Orazio & Associates Inc. lifted its position in Infosys by 9.1% during the 3rd quarter. D Orazio & Associates Inc. now owns 16,068 shares of the technology company’s stock valued at $358,000 after acquiring an additional 1,344 shares during the period. Finally, Empower Advisory Group LLC lifted its position in Infosys by 23.4% during the 3rd quarter. Empower Advisory Group LLC now owns 20,120 shares of the technology company’s stock valued at $448,000 after acquiring an additional 3,820 shares during the period. Institutional investors own 10.89% of the company’s stock.

Infosys Stock Down 1.3 %

Shares of INFY stock opened at $21.53 on Monday. The company has a 50 day moving average price of $22.33 and a 200-day moving average price of $20.61. Infosys Limited has a 52 week low of $16.04 and a 52 week high of $23.48. The firm has a market capitalization of $89.17 billion, a PE ratio of 27.60, a P/E/G ratio of 3.48 and a beta of 1.00.

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

Infosys Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were paid a $0.2126 dividend. The ex-dividend date of this dividend was Tuesday, October 29th. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. This represents a dividend yield of 1.1%. Infosys’s payout ratio is currently 53.85%.

Analyst Upgrades and Downgrades

INFY has been the subject of a number of recent research reports. StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Investec cut shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. BMO Capital Markets lifted their price target on shares of Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.