PNC Financial Services Group Inc. grew its stake in shares of Infosys Limited (NYSE:INFY – Free Report) by 3.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 70,540 shares of the technology company’s stock after acquiring an additional 2,573 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Infosys were worth $1,297,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC bought a new position in Infosys in the fourth quarter valued at about $36,000. Planned Solutions Inc. acquired a new stake in shares of Infosys in the fourth quarter valued at about $50,000. Blue Trust Inc. increased its stake in shares of Infosys by 61.8% in the fourth quarter. Blue Trust Inc. now owns 9,443 shares of the technology company’s stock valued at $161,000 after buying an additional 3,606 shares during the period. Outlook Wealth Advisors LLC acquired a new stake in shares of Infosys in the fourth quarter valued at about $191,000. Finally, HB Wealth Management LLC increased its stake in shares of Infosys by 5.7% in the fourth quarter. HB Wealth Management LLC now owns 10,661 shares of the technology company’s stock valued at $196,000 after buying an additional 575 shares during the period. 10.89% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. 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. Susquehanna dropped their target price on Infosys from $15.00 to $14.00 and set a “negative” rating on the stock in a report on Friday, April 19th. HSBC restated a “hold” rating and issued a $20.10 target price on shares of Infosys in a report on Friday, April 19th. Finally, Bank of America upgraded Infosys from a “neutral” rating to a “buy” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Infosys currently has an average rating of “Hold” and a consensus price target of $19.27.
Read Our Latest Report on INFY
Infosys Stock Performance
Infosys stock opened at $17.33 on Wednesday. The company has a 50 day moving average price of $17.35 and a 200-day moving average price of $18.38. Infosys Limited has a fifty-two week low of $15.11 and a fifty-two week high of $20.74. The company has a market capitalization of $71.75 billion, a PE ratio of 22.80, a P/E/G ratio of 3.20 and a beta of 0.95.
Infosys (NYSE:INFY – Get Free Report) last posted its earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.49 billion. Infosys had a return on equity of 32.33% and a net margin of 17.06%. During the same quarter in the prior year, the business earned $0.18 earnings per share. On average, analysts forecast that Infosys Limited will post 0.75 earnings per share for the current year.
Infosys Cuts Dividend
The company also recently announced a semi-annual dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 31st will be paid a dividend of $0.2035 per share. This represents a dividend yield of 1.4%. The ex-dividend date is Friday, May 31st. Infosys’s payout ratio is currently 47.37%.
Infosys Company Profile
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.
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Source: defenseworld.net
