Allspring Global Investments Holdings LLC Grows Position in Infosys Limited (NYSE:INFY)

Allspring Global Investments Holdings LLC boosted its position in Infosys Limited (NYSE:INFYFree Report) by 6.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,857,531 shares of the technology company’s stock after acquiring an additional 112,790 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Infosys were worth $33,306,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. First Trust Advisors LP increased its holdings in shares of Infosys by 3.6% in the 4th quarter. First Trust Advisors LP now owns 25,209,033 shares of the technology company’s stock valued at $463,342,000 after acquiring an additional 884,833 shares during the last quarter. FIL Ltd raised its holdings in Infosys by 5.9% during the fourth quarter. FIL Ltd now owns 18,459,935 shares of the technology company’s stock worth $339,294,000 after purchasing an additional 1,031,371 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Infosys by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock worth $139,327,000 after buying an additional 180,888 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Infosys by 20.7% in the 4th quarter. Franklin Resources Inc. now owns 6,719,669 shares of the technology company’s stock valued at $123,508,000 after buying an additional 1,150,885 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Infosys by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,360,152 shares of the technology company’s stock valued at $98,547,000 after buying an additional 209,675 shares during the last quarter. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on INFY. Bank of America upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 9th. Wedbush restated an “outperform” rating and set a $22.00 price target on shares of Infosys in a research note on Wednesday, March 13th. BMO Capital Markets reduced their price objective on Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a research note on Friday, April 19th. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, HSBC reiterated a “hold” rating and issued a $20.10 price target on shares of Infosys in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Infosys presently has a consensus rating of “Hold” and an average price target of $19.27.

Check Out Our Latest Stock Report on Infosys

Infosys Stock Performance

Shares of INFY opened at $19.37 on Friday. The stock has a market capitalization of $80.19 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.54 and a beta of 0.98. Infosys Limited has a 1 year low of $15.33 and a 1 year high of $20.74. The company’s fifty day moving average is $17.50 and its two-hundred day moving average is $18.44.

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

Infosys Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 31st were paid a $0.2035 dividend. The ex-dividend date was Friday, May 31st. This represents a dividend yield of 1.4%. Infosys’s dividend payout ratio (DPR) is presently 36.84%.

Infosys 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.

See Also

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Institutional Ownership by Quarter for Infosys (NYSE:INFY)

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