State of New Jersey Common Pension Fund D Buys 10,521 Shares of Infosys Limited (NYSE:INFY)

State of New Jersey Common Pension Fund D grew its position in shares of Infosys Limited (NYSE:INFYFree Report) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,309,869 shares of the technology company’s stock after acquiring an additional 10,521 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.08% of Infosys worth $73,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV increased 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 worth $328,000 after acquiring an additional 505 shares during the last quarter. Outlook Wealth Advisors LLC raised its position in shares of Infosys by 3.0% in the third quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company’s stock valued at $399,000 after purchasing an additional 526 shares during the period. GAMMA Investing LLC lifted its stake in shares of Infosys by 22.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after buying an additional 541 shares in the last quarter. D Orazio & Associates Inc. raised its holdings in Infosys by 4.1% during the 2nd quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock valued at $274,000 after acquiring an additional 584 shares during the period. Finally, Somerset Trust Co lifted its holdings in Infosys by 4.2% during the 2nd quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock worth $282,000 after purchasing an additional 611 shares in the last quarter. Institutional investors own 10.89% of the company’s stock.

Wall Street Analyst Weigh In

INFY has been the topic of several analyst reports. Investec cut Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. BMO Capital Markets lifted their price objective on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued 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.

Get Our Latest Report on Infosys

Infosys Price Performance

NYSE INFY traded up $0.10 on Friday, reaching $21.75. 7,742,961 shares of the company’s stock traded hands, compared to its average volume of 9,244,996. The stock has a market cap of $90.08 billion, a PE ratio of 27.88, a P/E/G ratio of 3.45 and a beta of 1.00. Infosys Limited has a 12 month low of $16.04 and a 12 month high of $23.48. The stock has a 50-day simple moving average of $22.44 and a 200 day simple moving average of $20.41.

Infosys (NYSE:INFYGet Free Report) last released its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the business earned $0.18 earnings per share. As a group, analysts anticipate that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were issued a dividend of $0.2126 per share. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. This represents a dividend yield of 1.1%. The ex-dividend date was Tuesday, October 29th. Infosys’s dividend payout ratio is currently 55.13%.

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.

Further Reading

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Institutional Ownership by Quarter for Infosys (NYSE:INFY)

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