Empower Advisory Group LLC Buys 3,820 Shares of Infosys Limited (NYSE:INFY)

Empower Advisory Group LLC lifted its stake in Infosys Limited (NYSE:INFY) by 23.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,120 shares of the technology company’s stock after purchasing an additional 3,820 shares during the quarter. Empower Advisory Group LLC’s holdings in Infosys were worth $448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of INFY. GAMMA Investing LLC raised its holdings in Infosys by 22.6% in the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after buying an additional 541 shares during the last quarter. Hilltop National Bank raised its holdings in Infosys by 50.8% in the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after acquiring an additional 1,004 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings 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 acquiring an additional 1,693 shares during the last quarter. Ridgewood Investments LLC bought a new position in Infosys in the 2nd quarter valued at approximately $162,000. Finally, Advisor Resource Council purchased a new stake in Infosys during the 3rd quarter valued at $202,000. 10.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INFY. BMO Capital Markets upped their price target on Infosys from $23.00 to $25.00 and gave the company 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 report on Wednesday, September 11th. Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. Finally, StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.85.

Infosys Stock Down 1.0 %

Shares of Infosys stock opened at $21.82 on Friday. Infosys Limited has a 52 week low of $16.04 and a 52 week high of $23.48. The stock’s 50-day simple moving average is $22.38 and its 200-day simple moving average is $20.52. The company has a market capitalization of $90.37 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 3.56 and a beta of 1.00.

Infosys (NYSE:INFY) last announced its quarterly earnings data 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 net margin of 17.15% and a return on equity of 31.43%. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period last year, the firm posted $0.18 EPS. On average, equities analysts expect that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were given 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 payout ratio is currently 53.85%.

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.