Financial Counselors Inc. increased its stake in Infosys Ltd (NYSE:INFY) by 161.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,112 shares of the technology company’s stock after buying an additional 24,166 shares during the quarter. Financial Counselors Inc.’s holdings in Infosys were worth $398,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Genesis Asset Managers LLP raised its stake in Infosys by 19.3% in the 3rd quarter. Genesis Asset Managers LLP now owns 11,462,657 shares of the technology company’s stock valued at $116,575,000 after acquiring an additional 1,857,986 shares during the period. Aperio Group LLC raised its stake in Infosys by 54.0% in the 2nd quarter. Aperio Group LLC now owns 2,139,510 shares of the technology company’s stock valued at $41,571,000 after acquiring an additional 749,865 shares during the period. LGT Capital Partners LTD. raised its stake in Infosys by 7.8% in the 2nd quarter. LGT Capital Partners LTD. now owns 716,200 shares of the technology company’s stock valued at $13,916,000 after acquiring an additional 51,800 shares during the period. CSat Investment Advisory L.P. bought a new stake in Infosys in the 2nd quarter valued at $1,738,000. Finally, Parsec Financial Management Inc. raised its stake in Infosys by 107.7% in the 3rd quarter. Parsec Financial Management Inc. now owns 1,879,547 shares of the technology company’s stock valued at $19,115,000 after acquiring an additional 974,400 shares during the period. Institutional investors and hedge funds own 8.99% of the company’s stock.
INFY has been the topic of a number of research analyst reports. ValuEngine cut Infosys from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Robert W. Baird increased their price objective on Infosys from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, September 14th. Goldman Sachs Group cut Infosys from a “buy” rating to a “neutral” rating and set a $11.00 price objective on the stock. in a research report on Wednesday, October 17th. Morgan Stanley cut Infosys from an “overweight” rating to a “hold” rating in a research report on Monday, August 20th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $11.00 price objective on shares of Infosys in a research report on Wednesday, October 17th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $15.26.
Infosys (NYSE:INFY) last posted its quarterly earnings data on Tuesday, October 16th. The technology company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Infosys had a return on equity of 24.56% and a net margin of 21.94%. During the same quarter last year, the business earned $0.13 EPS. On average, sell-side analysts forecast that Infosys Ltd will post 0.52 earnings per share for the current fiscal year.
The business also recently announced a dividend, which was paid on Friday, October 26th. Stockholders of record on Friday, October 26th were issued a dividend of $0.085 per share. The ex-dividend date of this dividend was Thursday, October 25th. Infosys’s dividend payout ratio (DPR) is currently 34.00%.
Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.
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