Ritholtz Wealth Management Purchases 11,612 Shares of Infosys Limited (NYSE:INFY)

Ritholtz Wealth Management increased its position in Infosys Limited (NYSE:INFY) by 38.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,638 shares of the technology company’s stock after purchasing an additional 11,612 shares during the quarter. Ritholtz Wealth Management’s holdings in Infosys were worth $927,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of INFY. GAMMA Investing LLC lifted its holdings in shares of Infosys by 33.0% during the 1st quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock worth $43,000 after acquiring an additional 593 shares during the period. Hilltop National Bank boosted its holdings in Infosys by 50.8% during the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after purchasing an additional 1,004 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of 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 purchasing an additional 1,693 shares during the period. Ridgewood Investments LLC acquired a new position in shares of Infosys in the 2nd quarter worth approximately $162,000. Finally, Confluence Investment Management LLC bought a new position in shares of Infosys during the 1st quarter worth approximately $189,000. Institutional investors and hedge funds own 10.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on INFY shares. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Finally, StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $19.68.

Infosys Price Performance

Shares of Infosys stock opened at $23.37 on Tuesday. The firm has a 50 day simple moving average of $22.54 and a 200 day simple moving average of $19.86. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.48. The firm has a market cap of $96.75 billion, a P/E ratio of 30.75, a P/E/G ratio of 3.68 and a beta of 0.99.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.67 billion. Infosys had a return on equity of 32.01% and a net margin of 17.18%. During the same quarter in the prior year, the firm posted $0.17 earnings per share. On average, sell-side analysts expect that Infosys Limited will post 0.75 EPS for the current year.

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.