Dynamic Technology Lab Private Ltd Takes Position in Infosys Limited (NYSE:INFY)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Infosys Limited (NYSE:INFY) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 23,283 shares of the technology company’s stock, valued at approximately $519,000.

Several other institutional investors have also recently modified their holdings of the company. Fisher Asset Management LLC increased its position in shares of Infosys by 9.7% during the 3rd quarter. Fisher Asset Management LLC now owns 14,415,018 shares of the technology company’s stock valued at $321,022,000 after purchasing an additional 1,271,890 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Infosys by 11.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 5,852,900 shares of the technology company’s stock valued at $130,344,000 after purchasing an additional 618,400 shares during the last quarter. Sompo Asset Management Co. Ltd. bought a new position in shares of Infosys during the 3rd quarter valued at about $222,000. Canopy Partners LLC increased its position in shares of Infosys by 3.1% during the 3rd quarter. Canopy Partners LLC now owns 17,129 shares of the technology company’s stock valued at $381,000 after purchasing an additional 522 shares during the last quarter. Finally, Cerity Partners LLC grew its position in Infosys by 71.9% during the 3rd quarter. Cerity Partners LLC now owns 89,966 shares of the technology company’s stock worth $2,004,000 after acquiring an additional 37,616 shares during the last quarter. 10.89% of the stock is currently owned by institutional investors.

Infosys Stock Performance

INFY opened at $22.07 on Friday. Infosys Limited has a 52-week low of $16.04 and a 52-week high of $23.48. The stock has a market capitalization of $91.41 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 3.67 and a beta of 1.00. The stock’s 50 day moving average price is $22.23 and its 200-day moving average price is $20.94.

Infosys (NYSE:INFY) last posted its 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. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the previous year, the firm earned $0.18 earnings per share. Research analysts forecast that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were given a dividend of $0.2126 per share. 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%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on INFY shares. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Investec cut Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Finally, BMO Capital Markets lifted their price target 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 investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Infosys presently has an average rating of “Hold” and a consensus target price 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.