Rehmann Capital Advisory Group Invests $300,000 in Infosys Limited (NYSE:INFY)

Rehmann Capital Advisory Group purchased a new stake in shares of Infosys Limited (NYSE:INFY) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 13,453 shares of the technology company’s stock, valued at approximately $300,000.

Several other large investors have also made changes to their positions in INFY. Mizuho Securities Co. Ltd. bought a new position in shares of Infosys in the 3rd quarter valued at approximately $33,000. Whittier Trust Co. of Nevada Inc. grew 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 valued at $56,000 after buying an additional 1,693 shares during the last quarter. GAMMA Investing LLC increased its position in Infosys by 34.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,936 shares of the technology company’s stock worth $88,000 after buying an additional 1,005 shares during the period. Ridgewood Investments LLC bought a new stake in shares of Infosys in the second quarter valued at approximately $162,000. Finally, Bank Pictet & Cie Europe AG acquired a new stake in shares of Infosys in the second quarter worth $194,000. Institutional investors own 16.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on INFY shares. BMO Capital Markets upped 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. HSBC upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. StockNews.com upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Hsbc Global Res upgraded Infosys from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.85.

Infosys Trading Up 0.6 %

Shares of INFY opened at $23.40 on Friday. The stock has a 50 day simple moving average of $22.30 and a 200-day simple moving average of $21.33. The stock has a market cap of $96.92 billion, a PE ratio of 30.00, a PEG ratio of 3.77 and a beta of 1.00. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.63.

Infosys (NYSE:INFY) last released its quarterly earnings data 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 firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period in the prior year, the company posted $0.18 earnings per share. On average, sell-side analysts forecast that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

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

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.