Integrated Wealth Concepts LLC Has $257,000 Position in Infosys Limited (NYSE:INFY)

Integrated Wealth Concepts LLC trimmed its holdings in Infosys Limited (NYSE:INFY) by 58.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,550 shares of the technology company’s stock after selling 16,419 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Infosys were worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. increased its stake in Infosys by 68.8% in the third 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 in the last quarter. Canada Pension Plan Investment Board increased its position in Infosys by 37.3% in the 2nd 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 in the last quarter. Victory Capital Management Inc. raised its stake in Infosys by 6,071.1% during the 3rd quarter. Victory Capital Management Inc. now owns 4,739,830 shares of the technology company’s stock worth $105,556,000 after buying an additional 4,663,023 shares during the period. Millennium Management LLC boosted its holdings in Infosys by 67.9% in the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock worth $141,532,000 after acquiring an additional 3,074,432 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Infosys by 46.0% in the second quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company’s stock valued at $97,467,000 after acquiring an additional 1,648,650 shares during the period. Institutional investors own 16.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on INFY shares. Hsbc Global Res upgraded Infosys from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. HSBC raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. StockNews.com upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, BMO Capital Markets boosted their price objective on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.85.

Infosys Stock Up 0.6 %

Shares of NYSE INFY opened at $23.40 on Friday. The company has a market capitalization of $96.92 billion, a PE ratio of 30.00, a PEG ratio of 3.77 and a beta of 1.00. The stock’s 50 day moving average price is $22.30 and its 200-day moving average price is $21.33. Infosys Limited has a twelve month low of $16.04 and a twelve month high of $23.63.

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. The firm 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 quarter in the prior year, the company earned $0.18 EPS. As a group, research analysts expect that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

The business also recently disclosed 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 is a positive change from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date was Tuesday, October 29th. This represents a yield of 1.1%. Infosys’s payout ratio is currently 53.85%.

Infosys 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.