M&T Bank Corp Has $2.11 Million Stock Holdings in Infosys Limited (NYSE:INFY)

M&T Bank Corp increased its stake in Infosys Limited (NYSE:INFY) by 247.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,907 shares of the technology company’s stock after acquiring an additional 67,580 shares during the quarter. M&T Bank Corp’s holdings in Infosys were worth $2,114,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Barclays PLC boosted its position in Infosys by 11.8% during the third quarter. Barclays PLC now owns 2,523,605 shares of the technology company’s stock valued at $56,200,000 after acquiring an additional 266,902 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Infosys during the 3rd quarter valued at about $36,039,000. Nomura Asset Management Co. Ltd. grew its stake in Infosys by 22.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 670,907 shares of the technology company’s stock worth $14,941,000 after purchasing an additional 123,083 shares during the period. MML Investors Services LLC increased its holdings in Infosys by 27.6% in the third quarter. MML Investors Services LLC now owns 19,685 shares of the technology company’s stock worth $438,000 after purchasing an additional 4,261 shares in the last quarter. Finally, Orion Portfolio Solutions LLC lifted its stake in Infosys by 6.4% in the third quarter. Orion Portfolio Solutions LLC now owns 29,148 shares of the technology company’s stock valued at $649,000 after buying an additional 1,741 shares during the period. 16.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on INFY. HSBC raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. BMO Capital Markets raised their target price 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, Hsbc Global Res raised Infosys from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.85.

Infosys Stock Performance

INFY stock opened at $23.40 on Friday. The business has a 50-day simple moving average of $22.30 and a two-hundred day simple moving average of $21.36. The company has a market capitalization of $96.92 billion, a P/E ratio of 30.00, a price-to-earnings-growth ratio of 3.77 and a beta of 1.00. Infosys Limited has a 52-week low of $16.04 and a 52-week high of $23.63.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Infosys had a return on equity of 31.43% and a net margin of 17.15%. During the same quarter in the previous year, the firm earned $0.18 earnings per share. As a group, sell-side analysts forecast that Infosys Limited will post 0.75 earnings per share for the current fiscal 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 $0.2126 dividend. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a dividend yield of 1.1%. This is an increase from Infosys’s previous semi-annual dividend of $0.20. Infosys’s dividend payout ratio is currently 53.85%.

About Infosys

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.