Pathstone Holdings LLC Purchases 4,587 Shares of Infosys Limited (NYSE:INFY)

Pathstone Holdings LLC grew its position in shares of Infosys Limited (NYSE:INFY) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129,321 shares of the technology company’s stock after buying an additional 4,587 shares during the quarter. Pathstone Holdings LLC’s holdings in Infosys were worth $2,880,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of INFY. Mizuho Securities Co. Ltd. bought a new position in shares of Infosys in the third quarter valued at about $33,000. GAMMA Investing LLC raised its stake in shares of Infosys by 22.6% in the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after acquiring an additional 541 shares during the last quarter. Hilltop National Bank lifted its position in shares of Infosys by 50.8% during the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after purchasing an additional 1,004 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of 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 purchasing an additional 1,693 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in Infosys in the 2nd quarter worth approximately $162,000. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Price Performance

Shares of NYSE:INFY opened at $22.84 on Tuesday. The firm’s 50 day simple moving average is $22.23 and its 200 day simple moving average is $20.83. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.48. The company has a market capitalization of $94.60 billion, a price-to-earnings ratio of 29.28, a P/E/G ratio of 3.68 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 earnings per share 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 company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period last year, the firm posted $0.18 earnings per share. Equities research analysts expect 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 of this dividend was Tuesday, October 29th. Infosys’s dividend payout ratio is 53.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on INFY. Investec lowered Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, BMO Capital Markets lifted their price target on shares of Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Infosys currently has a consensus rating of “Hold” 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.