Fisher Asset Management LLC Increases Holdings in Infosys Limited (NYSE:INFY)

Fisher Asset Management LLC increased its stake in Infosys Limited (NYSE:INFY) by 9.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 14,415,018 shares of the technology company’s stock after buying an additional 1,271,890 shares during the quarter. Fisher Asset Management LLC owned 0.35% of Infosys worth $321,022,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Mizuho Securities Co. Ltd. bought a new position in shares of Infosys in the third quarter worth $33,000. GAMMA Investing LLC grew its position in shares of Infosys by 22.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after purchasing an additional 541 shares in the last quarter. Hilltop National Bank raised 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 acquiring an additional 1,004 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Infosys by 126.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock valued at $56,000 after acquiring an additional 1,693 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of Infosys during the 2nd quarter valued at about $162,000. 10.89% of the stock is owned by institutional investors.

Infosys Stock Performance

Shares of NYSE:INFY opened at $22.79 on Monday. The firm has a market cap of $94.39 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 3.68 and a beta of 1.00. The firm’s 50 day simple moving average is $22.24 and its 200-day simple moving average is $20.79. 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. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The business 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 company posted $0.18 EPS. Equities research analysts predict that Infosys Limited will post 0.75 EPS 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 issued a dividend of $0.2126 per share. This represents a yield of 1.1%. This is a boost from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date of this dividend was Tuesday, October 29th. Infosys’s dividend payout ratio is presently 53.85%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. BMO Capital Markets boosted their price objective 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. Investec lowered Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Infosys currently has an average rating of “Hold” and a consensus 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.