Oppenheimer Asset Management Inc. Has $8.80 Million Stake in Infosys Limited (NYSE:INFY)

Oppenheimer Asset Management Inc. lowered its position in Infosys Limited (NYSE:INFY) by 10.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 395,172 shares of the technology company’s stock after selling 46,791 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Infosys were worth $8,800,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of INFY. Hilltop National Bank increased its position in Infosys by 50.8% in the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after acquiring an additional 1,004 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Infosys by 22.6% in the second 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 in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Infosys by 126.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after purchasing an additional 1,693 shares during the last quarter. Ridgewood Investments LLC bought a new position in Infosys in the 2nd quarter worth approximately $162,000. Finally, Bank Pictet & Cie Europe AG acquired a new position in Infosys during the 2nd quarter worth $194,000. 10.89% of the stock is owned by institutional investors and hedge funds.

Infosys Stock Up 0.1 %

Shares of NYSE INFY opened at $22.05 on Thursday. Infosys Limited has a twelve month low of $16.04 and a twelve month high of $23.48. The company’s fifty day moving average is $22.40 and its 200-day moving average is $20.51. The stock has a market cap of $91.31 billion, a price-to-earnings ratio of 28.26, a P/E/G ratio of 3.56 and a beta of 1.00.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (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 company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the prior year, the company earned $0.18 earnings per share. On average, research analysts anticipate that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Investec lowered Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. StockNews.com upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Tuesday. BMO Capital Markets raised their target price on shares of Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Infosys presently has a consensus rating of “Hold” and a consensus price target 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.