Bank of America Corp DE boosted its stake in Infosys Limited (NYSE:INFY – Get Rating) by 6.5% in the 1st quarter, Holdings Channel reports. The firm owned 6,294,607 shares of the technology company’s stock after buying an additional 386,340 shares during the quarter. Bank of America Corp DE’s holdings in Infosys were worth $156,673,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in INFY. Origin Asset Management LLP grew its stake in shares of Infosys by 0.3% during the first quarter. Origin Asset Management LLP now owns 5,816,301 shares of the technology company’s stock valued at $144,768,000 after acquiring an additional 19,500 shares in the last quarter. Capital International Sarl grew its stake in shares of Infosys by 19.1% during the first quarter. Capital International Sarl now owns 95,289 shares of the technology company’s stock valued at $2,372,000 after acquiring an additional 15,299 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Infosys by 25.1% during the first quarter. BNP Paribas Arbitrage SA now owns 861,494 shares of the technology company’s stock valued at $21,443,000 after acquiring an additional 173,020 shares in the last quarter. Golden State Equity Partners acquired a new stake in shares of Infosys during the first quarter valued at about $305,000. Finally, Range Financial Group LLC acquired a new stake in shares of Infosys during the first quarter valued at about $819,000. 13.01% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts have recently weighed in on INFY shares. HSBC upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Tuesday, May 31st. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a research report on Friday, September 2nd. Susquehanna cut shares of Infosys from a “positive” rating to a “neutral” rating and reduced their price target for the stock from $29.00 to $20.00 in a research report on Friday, September 16th. JPMorgan Chase & Co. cut shares of Infosys from an “overweight” rating to a “neutral” rating in a research report on Monday, August 22nd. They noted that the move was a valuation call. Finally, The Goldman Sachs Group cut shares of Infosys from a “buy” rating to a “sell” rating in a research report on Tuesday, September 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Infosys presently has an average rating of “Hold” and an average price target of $22.92.
Infosys Stock Down 2.0 %
Infosys (NYSE:INFY – Get Rating) last issued its earnings results on Sunday, July 24th. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Infosys had a return on equity of 30.83% and a net margin of 17.37%. The business had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.38 billion. As a group, equities research analysts expect that Infosys Limited will post 0.72 earnings per share for the current year.
Infosys Increases Dividend
The firm also recently declared a Semi-Annual dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 1st were issued a dividend of $0.171 per share. The ex-dividend date of this dividend was Tuesday, May 31st. This is a boost from Infosys’s previous Semi-Annual dividend of $0.14. Infosys’s payout ratio is 49.28%.
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 development and management, independent validation, product engineering and management, infrastructure management, enterprise application management, and support and integration services.
- Get a free copy of the StockNews.com research report on Infosys (INFY)
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