Infosys Limited (NYSE:INFY) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its holdings in shares of Infosys Limited (NYSE:INFY) by 5.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,072,537 shares of the technology company’s stock after buying an additional 297,183 shares during the quarter. BNP Paribas Financial Markets’ holdings in Infosys were worth $135,235,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in INFY. International Assets Investment Management LLC purchased a new position in Infosys during the third quarter valued at approximately $16,560,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of Infosys during the 2nd quarter worth approximately $529,000. Panagora Asset Management Inc. increased its holdings in shares of 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Infosys by 186.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,186,685 shares of the technology company’s stock valued at $48,697,000 after purchasing an additional 1,422,814 shares during the period. Finally, Millennium Management LLC grew its position in Infosys by 67.9% during the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock valued at $141,532,000 after buying an additional 3,074,432 shares during the period. 10.89% of the stock is owned by hedge funds and other institutional investors.

Infosys Price Performance

Shares of NYSE:INFY opened at $23.17 on Wednesday. The firm has a market capitalization of $95.97 billion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 3.69 and a beta of 1.00. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.48. The firm’s 50-day moving average is $22.24 and its two-hundred day moving average is $20.87.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. Infosys had a net margin of 17.15% and a return on equity of 31.43%. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the prior year, the firm earned $0.18 EPS. Analysts expect that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

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

Wall Street Analyst Weigh In

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