Artemis Investment Management LLP Grows Stock Holdings in Infosys Limited (NYSE:INFY)

Artemis Investment Management LLP increased its stake in shares of Infosys Limited (NYSE:INFY) by 20.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,193 shares of the technology company’s stock after buying an additional 14,500 shares during the quarter. Artemis Investment Management LLP’s holdings in Infosys were worth $1,510,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in INFY. GAMMA Investing LLC purchased a new stake in Infosys in the 4th quarter valued at approximately $36,000. Planned Solutions Inc. purchased a new stake in Infosys in the 4th quarter valued at approximately $50,000. Jones Financial Companies Lllp purchased a new stake in Infosys in the 4th quarter valued at approximately $56,000. EverSource Wealth Advisors LLC boosted its holdings in Infosys by 113.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,130 shares of the technology company’s stock valued at $58,000 after purchasing an additional 1,663 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in Infosys in the 4th quarter valued at approximately $123,000. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Susquehanna reduced their price target on shares of Infosys from $15.00 to $14.00 and set a “negative” rating for the company in a research report on Friday, April 19th. Guggenheim assumed coverage on shares of Infosys in a research report on Tuesday, March 19th. They set a “neutral” rating and a $20.00 price target for the company. Wedbush reiterated an “outperform” rating and set a $22.00 price target on shares of Infosys in a research report on Wednesday, March 13th. Finally, Bank of America upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Infosys has an average rating of “Hold” and a consensus target price of $19.27.

Infosys Price Performance

INFY traded down $0.01 during trading on Friday, hitting $18.62. The company’s stock had a trading volume of 9,520,322 shares, compared to its average volume of 9,384,836. The firm’s 50 day moving average price is $17.30 and its 200-day moving average price is $18.40. The stock has a market cap of $77.09 billion, a PE ratio of 24.59, a PEG ratio of 3.36 and a beta of 0.96. Infosys Limited has a twelve month low of $15.33 and a twelve month high of $20.74.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.49 billion. Infosys had a return on equity of 32.33% and a net margin of 17.06%. During the same period in the previous year, the firm posted $0.18 EPS. Equities analysts anticipate that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 31st were issued a $0.2035 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a yield of 1.4%. Infosys’s dividend payout ratio (DPR) is presently 38.16%.

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.