Vestmark Advisory Solutions Inc. Makes New Investment in Infosys Limited (NYSE:INFY)

Posted by Defense World Staff on Aug 19th, 2023

Vestmark Advisory Solutions Inc. bought a new stake in Infosys Limited (NYSE:INFY – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,519 shares of the technology company’s stock, valued at approximately $236,000.

A number of other large investors have also recently made changes to their positions in INFY. Raymond James Financial Services Advisors Inc. boosted its stake in Infosys by 4.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,735 shares of the technology company’s stock worth $417,000 after purchasing an additional 652 shares during the period. Cibc World Market Inc. boosted its stake in shares of Infosys by 39.8% during the first quarter. Cibc World Market Inc. now owns 157,264 shares of the technology company’s stock worth $3,914,000 after buying an additional 44,768 shares during the period. Blair William & Co. IL acquired a new stake in shares of Infosys during the first quarter worth about $465,000. Canada Pension Plan Investment Board grew its holdings in shares of Infosys by 108.3% during the first quarter. Canada Pension Plan Investment Board now owns 1,017,100 shares of the technology company’s stock worth $25,315,000 after buying an additional 528,900 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its stake in Infosys by 1.6% during 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 acquiring an additional 16,102 shares during the last quarter. 12.16% of the stock is owned by institutional investors and hedge funds.

Infosys Stock Down 1.5 %

NYSE:INFY opened at $16.72 on Friday. The firm’s fifty day simple moving average is $16.35 and its 200-day simple moving average is $16.65. The stock has a market cap of $69.17 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 2.40 and a beta of 0.98. Infosys Limited has a fifty-two week low of $14.71 and a fifty-two week high of $20.57.

Infosys (NYSE:INFY – Get Free Report) last issued its earnings results on Thursday, July 20th. The technology company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Infosys had a return on equity of 32.39% and a net margin of 16.41%. The company had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.55 billion. Equities analysts anticipate that Infosys Limited will post 0.71 earnings per share for the current year.

Infosys Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, July 3rd. Investors of record on Friday, June 2nd were issued a dividend of $0.2134 per share. The ex-dividend date was Thursday, June 1st. This is a boost from Infosys’s previous semi-annual dividend of $0.17. This represents a yield of 1.5%. Infosys’s payout ratio is currently 50.00%.

Analysts Set New Price Targets

INFY has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on Infosys in a report on Tuesday, May 23rd. They issued an “underweight” rating and a $14.00 target price on the stock. StockNews.com assumed coverage on shares of Infosys in a research note on Thursday. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.57.

Check Out Our Latest Report on INFY

Infosys Company Profile

(Free Report)

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.