62,145 Shares in Infosys Limited (NYSE:INFY) Acquired by Blueshift Asset Management LLC

Blueshift Asset Management LLC acquired a new stake in Infosys Limited (NYSE:INFY) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 62,145 shares of the technology company’s stock, valued at approximately $1,384,000.

A number of other hedge funds have also recently added to or reduced their stakes in INFY. International Assets Investment Management LLC bought a new stake in Infosys during the 3rd quarter valued at $16,560,000. Baader Bank Aktiengesellschaft bought a new position in Infosys in the 2nd quarter valued at about $529,000. Panagora Asset Management Inc. boosted its stake in Infosys by 52.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,010,512 shares of the technology company’s stock valued at $18,816,000 after purchasing an additional 348,018 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Infosys by 186.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,186,685 shares of the technology company’s stock worth $48,697,000 after purchasing an additional 1,422,814 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Infosys by 67.9% in the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock worth $141,532,000 after purchasing an additional 3,074,432 shares during the last quarter. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Price Performance

INFY opened at $23.17 on Wednesday. The firm has a market capitalization of $95.97 billion, a P/E ratio of 29.71, a price-to-earnings-growth ratio of 3.69 and a beta of 1.00. Infosys Limited has a one year low of $16.04 and a one year high of $23.48. The company has a fifty day moving average price of $22.24 and a 200-day moving average price of $20.87.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 last year, the company posted $0.18 EPS. On average, analysts expect that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

The business also recently declared 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 is a positive change from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a dividend yield of 1.1%. Infosys’s dividend payout ratio is presently 53.85%.

Wall Street Analysts Forecast Growth

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