Assetmark Inc. grew its stake in shares of Infosys Limited (NYSE:INFY – Free Report) by 15.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,056 shares of the technology company’s stock after purchasing an additional 9,063 shares during the period. Assetmark Inc.’s holdings in Infosys were worth $1,169,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Infosys by 4.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,735 shares of the technology company’s stock worth $417,000 after acquiring an additional 652 shares during the last quarter. Cibc World Market Inc. raised its holdings in shares of Infosys by 39.8% in the 1st quarter. Cibc World Market Inc. now owns 157,264 shares of the technology company’s stock worth $3,914,000 after acquiring an additional 44,768 shares during the last quarter. Blair William & Co. IL purchased a new stake in Infosys in the 1st quarter valued at about $465,000. Canada Pension Plan Investment Board increased its stake in Infosys by 108.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,017,100 shares of the technology company’s stock valued at $25,315,000 after buying an additional 528,900 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in Infosys by 1.6% in the 1st quarter. Allianz Asset Management GmbH now owns 1,051,193 shares of the technology company’s stock valued at $26,164,000 after buying an additional 16,102 shares during the last quarter. Institutional investors and hedge funds own 12.16% of the company’s stock.
Analyst Upgrades and Downgrades
INFY has been the subject of several analyst reports. StockNews.com initiated coverage on shares of Infosys in a research note on Thursday, May 18th. They issued a “hold” rating for the company. BMO Capital Markets decreased their price objective on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a research note on Friday, April 14th. Credit Suisse Group lowered shares of Infosys from an “outperform” rating to a “neutral” rating in a research note on Friday, April 14th. Macquarie lowered shares of Infosys from an “outperform” rating to a “neutral” rating in a research note on Sunday, April 16th. Finally, Nomura downgraded shares of Infosys from a “buy” rating to a “neutral” rating in a research report on Thursday, April 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.57.
Infosys Stock Up 1.0 %
Infosys stock opened at $16.88 on Friday. The firm has a 50 day moving average price of $16.16 and a 200-day moving average price of $16.73. The company has a market capitalization of $69.86 billion, a P/E ratio of 23.44, a P/E/G ratio of 2.35 and a beta of 0.98. Infosys Limited has a twelve month low of $14.71 and a twelve month high of $20.57.
Infosys Increases Dividend
The firm also recently disclosed a semi-annual dividend, which was paid on Monday, July 3rd. Investors of record on Friday, June 2nd were issued a $0.2134 dividend. The ex-dividend date of this dividend was Thursday, June 1st. This is an increase from Infosys’s previous semi-annual dividend of $0.17. This represents a yield of 1.5%. Infosys’s dividend payout ratio (DPR) is 50.00%.
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 application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.
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