Creative Planning Boosts Stake in Infosys Limited (NYSE:INFY)

Creative Planning lifted its stake in Infosys Limited (NYSE:INFY) by 26.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 400,866 shares of the technology company’s stock after acquiring an additional 83,648 shares during the period. Creative Planning’s holdings in Infosys were worth $8,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in Infosys by 20.3% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 347,420 shares of the technology company’s stock worth $7,737,000 after buying an additional 58,633 shares in the last quarter. Ritholtz Wealth Management increased its stake in Infosys by 38.7% in the 3rd quarter. Ritholtz Wealth Management now owns 41,638 shares of the technology company’s stock worth $927,000 after buying an additional 11,612 shares in the last quarter. Perpetual Ltd purchased a new stake in Infosys in the 3rd quarter worth $12,620,000. Brookstone Capital Management purchased a new stake in Infosys in the 3rd quarter worth $283,000. Finally, Artemis Investment Management LLP increased its stake in Infosys by 229.5% in the 3rd quarter. Artemis Investment Management LLP now owns 50,057 shares of the technology company’s stock worth $1,115,000 after buying an additional 34,864 shares in the last quarter. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

Infosys Stock Down 0.2 %

Shares of INFY stock opened at $22.16 on Wednesday. The firm has a market cap of $91.74 billion, a price-to-earnings ratio of 29.16, a PEG ratio of 3.68 and a beta of 0.99. The company’s 50 day moving average is $22.70 and its 200 day moving average is $20.06. Infosys Limited has a 52-week low of $16.04 and a 52-week high of $23.48.

Infosys (NYSE:INFY) last issued its quarterly earnings data 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 net margin of 17.18% and a return on equity of 32.01%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period last year, the company posted $0.18 earnings per share. Analysts anticipate 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 will be paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st will be issued a $0.2126 dividend. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. This represents a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, October 29th. Infosys’s payout ratio is currently 36.84%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. 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 Monday. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. BMO Capital Markets raised their price objective on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Infosys presently has an average rating of “Hold” and a consensus price target of $20.85.

Infosys Company 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.