Thrivent Financial for Lutherans Increases Stock Holdings in Infosys Limited (NYSE:INFY)

Thrivent Financial for Lutherans boosted its position in shares of Infosys Limited (NYSE:INFY) by 495.2% during the third quarter, Holdings Channel.com reports. The firm owned 154,395 shares of the technology company’s stock after buying an additional 128,457 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Infosys were worth $3,438,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. lifted its stake in shares of Infosys by 68.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock valued at $542,051,000 after purchasing an additional 9,923,744 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Infosys by 37.3% in the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock valued at $401,826,000 after buying an additional 5,862,144 shares during the last quarter. Millennium Management LLC boosted its stake in Infosys by 67.9% during the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock worth $141,532,000 after buying an additional 3,074,432 shares during the period. Bank of New York Mellon Corp increased its position in shares of Infosys by 10.0% during the second quarter. Bank of New York Mellon Corp now owns 6,248,026 shares of the technology company’s stock valued at $116,338,000 after acquiring an additional 570,435 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Infosys by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,040,195 shares of the technology company’s stock valued at $112,481,000 after acquiring an additional 715,812 shares during the period. 10.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on INFY. Investec cut shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. BMO Capital Markets boosted their price objective on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.85.

Infosys Price Performance

Shares of NYSE INFY opened at $22.84 on Tuesday. The company has a market cap of $94.60 billion, a price-to-earnings ratio of 29.28, a price-to-earnings-growth ratio of 3.68 and a beta of 1.00. The stock’s 50-day moving average is $22.23 and its two-hundred day moving average is $20.83. Infosys Limited has a 1-year low of $16.04 and a 1-year high of $23.48.

Infosys (NYSE:INFY) last released its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates 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 analyst estimates of $4.89 billion. During the same period in the prior year, the firm earned $0.18 earnings per share. Equities research analysts anticipate that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

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