Caprock Group LLC Buys 720 Shares of Infosys Limited (NYSE:INFY)

Caprock Group LLC lifted its stake in shares of Infosys Limited (NYSE:INFY) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,593 shares of the technology company’s stock after purchasing an additional 720 shares during the quarter. Caprock Group LLC’s holdings in Infosys were worth $1,416,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mizuho Securities Co. Ltd. bought a new position in shares of Infosys during the 3rd quarter worth about $33,000. GAMMA Investing LLC lifted its position in Infosys by 22.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after acquiring an additional 541 shares in the last quarter. Hilltop National Bank lifted its position in Infosys by 50.8% in the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after acquiring an additional 1,004 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position 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 acquiring an additional 1,693 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in Infosys in the 2nd quarter valued at about $162,000. Institutional investors own 10.89% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets increased their price objective 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. Finally, Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Infosys presently has an average rating of “Hold” and an average target price of $20.85.

Infosys Stock Up 1.2 %

Shares of INFY stock opened at $22.00 on Thursday. The company has a 50 day moving average of $22.27 and a 200-day moving average of $20.69. Infosys Limited has a 12-month low of $16.04 and a 12-month high of $23.48. The firm has a market cap of $91.10 billion, a P/E ratio of 28.20, a PEG ratio of 3.48 and a beta of 1.00.

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

Infosys Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were paid a $0.2126 dividend. This represents a yield of 1.1%. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date of this dividend was Tuesday, October 29th. 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.