PNC Financial Services Group Inc. Increases Position in Infosys Limited (NYSE:INFY)

PNC Financial Services Group Inc. boosted its position in Infosys Limited (NYSE:INFY) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,570 shares of the technology company’s stock after buying an additional 1,888 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Infosys were worth $1,661,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mizuho Securities Co. Ltd. bought a new stake in Infosys in the third quarter valued at about $33,000. GAMMA Investing LLC increased 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 valued at $55,000 after buying an additional 541 shares during the last quarter. Hilltop National Bank increased its holdings in Infosys by 50.8% in the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after buying an additional 1,004 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Infosys by 126.7% in the second 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. Finally, Ridgewood Investments LLC bought a new stake in Infosys in the second quarter valued at about $162,000. 10.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on INFY shares. 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. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Investec lowered Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.85.

Infosys Trading Up 1.4 %

Shares of NYSE INFY opened at $23.17 on Wednesday. The stock has a 50 day simple moving average of $22.24 and a 200-day simple moving average of $20.87. The company has a market cap of $95.97 billion, a PE ratio of 29.71, a P/E/G ratio of 3.68 and a beta of 1.00. Infosys Limited has a 12-month low of $16.04 and a 12-month high of $23.48.

Infosys (NYSE:INFY) last issued 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. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a return on equity of 31.43% and a net margin of 17.15%. During the same period in the previous year, the firm posted $0.18 earnings per share. Sell-side analysts forecast that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were given a $0.2126 dividend. This represents a yield of 1.1%. This is an increase from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date of this dividend was Tuesday, October 29th. Infosys’s dividend 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.