Moran Wealth Management LLC Has $3.88 Million Position in Infosys Limited (NYSE:INFY)

Moran Wealth Management LLC cut its stake in shares of Infosys Limited (NYSE:INFY) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 174,149 shares of the technology company’s stock after selling 1,786 shares during the period. Moran Wealth Management LLC’s holdings in Infosys were worth $3,878,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of INFY. Robeco Institutional Asset Management B.V. boosted its position in Infosys by 68.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock valued at $542,051,000 after purchasing an additional 9,923,744 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Infosys by 37.3% in the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock valued at $401,826,000 after buying an additional 5,862,144 shares during the period. Victory Capital Management Inc. raised its stake in Infosys by 6,071.1% in the third quarter. Victory Capital Management Inc. now owns 4,739,830 shares of the technology company’s stock valued at $105,556,000 after buying an additional 4,663,023 shares during the period. Millennium Management LLC raised its stake in Infosys by 67.9% in the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock valued at $141,532,000 after buying an additional 3,074,432 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in Infosys by 46.0% in the second quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company’s stock valued at $97,467,000 after buying an additional 1,648,650 shares during the period. 10.89% of the stock is owned by institutional investors and hedge funds.

Infosys Price Performance

Infosys stock opened at $22.00 on Thursday. The stock’s fifty day moving average price is $22.27 and its two-hundred day moving average price is $20.69. The firm has a market cap of $91.10 billion, a PE ratio of 28.20, a price-to-earnings-growth ratio of 3.51 and a beta of 1.00. Infosys Limited has a one year low of $16.04 and a one year high of $23.48.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a return on equity of 31.43% and a net margin of 17.15%. During the same quarter last year, the business posted $0.18 EPS. Sell-side analysts expect that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were issued a dividend of $0.2126 per share. This is an increase from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date was Tuesday, October 29th. This represents a dividend yield of 1.1%. Infosys’s dividend payout ratio (DPR) is 53.85%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Investec lowered Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a research note on Wednesday. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, BMO Capital Markets increased their target price on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $20.85.

Infosys 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.