Cerity Partners LLC Acquires 37,616 Shares of Infosys Limited (NYSE:INFY)

Cerity Partners LLC grew its stake in Infosys Limited (NYSE:INFY) by 71.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,966 shares of the technology company’s stock after acquiring an additional 37,616 shares during the period. Cerity Partners LLC’s holdings in Infosys were worth $2,004,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Tidal Investments LLC bought a new position in shares of Infosys in the first quarter valued at $371,000. Virtu Financial LLC acquired a new position in shares of Infosys during the 1st quarter worth about $244,000. Cetera Advisors LLC bought a new stake in shares of Infosys in the 1st quarter valued at about $210,000. GAMMA Investing LLC lifted its stake in 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 last quarter. Finally, Somerset Trust Co grew its holdings in Infosys by 4.2% during the second quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock worth $282,000 after purchasing an additional 611 shares during the period. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Price Performance

Shares of NYSE:INFY opened at $22.07 on Monday. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.48. The stock has a market capitalization of $91.41 billion, a price-to-earnings ratio of 28.29, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00. The company’s 50 day simple moving average is $22.23 and its 200 day simple moving average is $20.99.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. As a group, analysts anticipate that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

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

Analysts Set New Price Targets

A number of research firms recently weighed in on INFY. Investec cut Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, BMO Capital Markets raised their price objective on shares of Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Infosys currently 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.