Massachusetts Financial Services Co. MA Increases Holdings in Infosys Limited (NYSE:INFY)

Massachusetts Financial Services Co. MA boosted its holdings in Infosys Limited (NYSE:INFY) by 7.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,647,992 shares of the technology company’s stock after acquiring an additional 107,947 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Infosys were worth $36,701,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Mizuho Securities Co. Ltd. acquired a new stake in shares of Infosys during the third quarter valued at $33,000. GAMMA Investing LLC grew its position 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 acquiring an additional 541 shares in the last quarter. Hilltop National Bank grew its holdings in Infosys by 50.8% during the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after purchasing an additional 1,004 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Infosys by 126.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after acquiring an additional 1,693 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in Infosys during the 2nd quarter worth approximately $162,000. 10.89% of the stock is currently owned by institutional investors and hedge funds.

Infosys Stock Up 3.8 %

Shares of NYSE:INFY opened at $22.79 on Monday. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.48. The company has a market cap of $94.39 billion, a PE ratio of 29.22, a P/E/G ratio of 3.55 and a beta of 1.00. The company’s 50-day moving average price is $22.24 and its 200 day moving average price is $20.79.

Infosys (NYSE:INFY) last released 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. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations 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 business posted $0.18 earnings per share. As a group, equities analysts anticipate that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were given a dividend of $0.2126 per share. 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 dividend yield of 1.1%. Infosys’s dividend payout ratio (DPR) is 53.85%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INFY. Investec cut shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, BMO Capital Markets raised their price target on shares of Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Two equities research 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’s stock. Based on data from MarketBeat.com, Infosys currently has a consensus rating of “Hold” and an average target price of $20.85.

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.