Infosys Limited (NYSE:INFY) Stock Position Increased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Infosys Limited (NYSE:INFY) by 186.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,186,685 shares of the technology company’s stock after buying an additional 1,422,814 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Infosys were worth $48,697,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of INFY. Mercer Global Advisors Inc. ADV lifted its holdings in Infosys by 2.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock valued at $328,000 after acquiring an additional 505 shares during the last quarter. Outlook Wealth Advisors LLC boosted its holdings in Infosys by 3.0% during the third quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company’s stock worth $399,000 after buying an additional 526 shares in the last quarter. GAMMA Investing LLC grew its position in Infosys by 22.6% in the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after buying an additional 541 shares during the last quarter. D Orazio & Associates Inc. grew its position in Infosys by 4.1% in the second quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock worth $274,000 after buying an additional 584 shares during the last quarter. Finally, Somerset Trust Co increased its holdings in shares of Infosys by 4.2% in the second quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock valued at $282,000 after buying an additional 611 shares in the last quarter. Institutional investors own 10.89% of the company’s stock.

Infosys Price Performance

NYSE INFY opened at $21.74 on Wednesday. The firm has a market capitalization of $90.04 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 3.48 and a beta of 1.00. The company has a 50 day simple moving average of $22.29 and a 200-day simple moving average of $20.68. Infosys Limited has a 52-week low of $16.04 and a 52-week high of $23.48.

Infosys (NYSE:INFY) last released its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a net margin of 17.15% and a return on equity of 31.43%. During the same quarter in the prior year, the firm earned $0.18 EPS. On average, analysts predict that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were given a dividend of $0.2126 per share. This is a boost from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a yield of 1.1%. Infosys’s dividend payout ratio (DPR) is presently 53.85%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. BMO Capital Markets lifted their target price on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Infosys currently has a consensus rating of “Hold” and a consensus target price of $20.85.

Infosys 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.