Nwam LLC Takes $233,000 Position in Infosys Limited (NYSE:INFY)

Nwam LLC purchased a new stake in Infosys Limited (NYSE:INFY) during the third quarter, according to its most recent filing with the SEC. The firm purchased 10,484 shares of the technology company’s stock, valued at approximately $233,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mizuho Securities Co. Ltd. bought a new stake in shares of Infosys in the third quarter worth about $33,000. GAMMA Investing LLC grew its position in shares of Infosys by 22.6% in 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 during the period. Hilltop National Bank increased its stake in Infosys by 50.8% during the 2nd 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. raised its holdings in Infosys by 126.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after buying an additional 1,693 shares during the period. Finally, Ridgewood Investments LLC bought a new position in Infosys in the second quarter valued at approximately $162,000. Institutional investors own 10.89% of the company’s stock.

Infosys Stock Performance

Shares of NYSE INFY opened at $22.84 on Tuesday. The stock has a market capitalization of $94.60 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 3.68 and a beta of 1.00. Infosys Limited has a 52 week low of $16.04 and a 52 week high of $23.48. The stock has a 50 day moving average price of $22.23 and a 200 day moving average price of $20.83.

Infosys (NYSE:INFY) last released its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a return on equity of 31.43% and a net margin of 17.15%. During the same quarter in the prior year, the firm posted $0.18 EPS. As a group, research analysts forecast that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

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

Analysts Set New Price Targets

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