Allianz Asset Management GmbH Buys 1,497 Shares of Infosys Limited (NYSE:INFY)

Allianz Asset Management GmbH grew its stake in shares of Infosys Limited (NYSE:INFYFree Report) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 283,744 shares of the technology company’s stock after purchasing an additional 1,497 shares during the quarter. Allianz Asset Management GmbH’s holdings in Infosys were worth $5,215,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in Infosys by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,360,152 shares of the technology company’s stock worth $98,547,000 after acquiring an additional 209,675 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Infosys by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock valued at $139,327,000 after purchasing an additional 180,888 shares during the period. International Assets Investment Management LLC acquired a new stake in Infosys in the 4th quarter valued at about $878,000. Natixis Advisors L.P. grew its holdings in Infosys by 31.8% during the fourth quarter. Natixis Advisors L.P. now owns 216,324 shares of the technology company’s stock worth $3,976,000 after purchasing an additional 52,203 shares during the period. Finally, Baillie Gifford & Co. increased its position in Infosys by 3.3% during the fourth quarter. Baillie Gifford & Co. now owns 3,190,513 shares of the technology company’s stock worth $58,642,000 after buying an additional 102,273 shares during the last quarter. Institutional investors own 10.89% of the company’s stock.

Infosys Trading Up 2.2 %

Shares of INFY stock opened at $17.17 on Thursday. The stock has a 50 day simple moving average of $17.22 and a 200 day simple moving average of $18.36. Infosys Limited has a 1 year low of $15.11 and a 1 year high of $20.74. The stock has a market cap of $71.08 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 3.10 and a beta of 0.96.

Infosys (NYSE:INFYGet Free Report) last released its earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. Infosys had a return on equity of 32.33% and a net margin of 17.06%. The company had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same period in the prior year, the firm posted $0.18 EPS. Analysts forecast that Infosys Limited will post 0.75 EPS for the current year.

Infosys Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 31st were issued a $0.2035 dividend. This represents a yield of 1.4%. The ex-dividend date of this dividend was Friday, May 31st. Infosys’s dividend payout ratio is currently 38.16%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Bank of America upgraded Infosys from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 9th. Wedbush reissued an “outperform” rating and issued a $22.00 price objective on shares of Infosys in a research report on Wednesday, March 13th. Guggenheim assumed coverage on shares of Infosys in a research note on Tuesday, March 19th. They set a “neutral” rating and a $20.00 target price for the company. BMO Capital Markets lowered their price target on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a report on Friday, April 19th. Finally, Susquehanna reduced their price objective on Infosys from $15.00 to $14.00 and set a “negative” rating for the company in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Infosys has an average rating of “Hold” and an average price target of $19.27.

View Our Latest Stock 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 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.

Further Reading

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Institutional Ownership by Quarter for Infosys (NYSE:INFY)

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