Rehmann Capital Advisory Group Acquires Shares of 13,453 Infosys Limited (NYSE:INFY)

Rehmann Capital Advisory Group bought a new position in shares of Infosys Limited (NYSE:INFY) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,453 shares of the technology company’s stock, valued at approximately $300,000.

Several other large investors also recently made changes to their positions in the business. Mizuho Securities Co. Ltd. acquired a new stake in shares of Infosys in the third quarter valued at approximately $33,000. Whittier Trust Co. of Nevada Inc. boosted its position in Infosys by 126.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock valued at $56,000 after buying an additional 1,693 shares during the last quarter. GAMMA Investing LLC boosted its position in Infosys by 34.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,936 shares of the technology company’s stock valued at $88,000 after buying an additional 1,005 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Infosys in the 2nd quarter valued at $162,000. Finally, Bank Pictet & Cie Europe AG bought a new stake in shares of Infosys during the second quarter worth $194,000. Institutional investors own 16.20% of the company’s stock.

Infosys Stock Performance

Shares of NYSE:INFY opened at $23.40 on Friday. The company has a 50 day moving average price of $22.30 and a two-hundred day moving average price of $21.33. The company has a market capitalization of $96.92 billion, a PE ratio of 30.00, a PEG ratio of 3.77 and a beta of 1.00. Infosys Limited has a 52 week low of $16.04 and a 52 week high of $23.63.

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

Infosys Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on INFY. Hsbc Global Res upgraded Infosys from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. Investec cut shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. HSBC raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Finally, BMO Capital Markets upped their target price 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.