Franklin Resources Inc. Buys 322,648 Shares of Infosys Limited (NYSE:INFY)

Franklin Resources Inc. increased its stake in shares of Infosys Limited (NYSE:INFY) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,272,051 shares of the technology company’s stock after buying an additional 322,648 shares during the period. Franklin Resources Inc. owned 0.27% of Infosys worth $263,315,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of INFY. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Infosys by 68.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock worth $542,051,000 after acquiring an additional 9,923,744 shares during the period. Canada Pension Plan Investment Board boosted its stake in Infosys by 37.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock valued at $401,826,000 after purchasing an additional 5,862,144 shares during the period. Victory Capital Management Inc. grew its holdings in Infosys by 6,071.1% in the 3rd quarter. Victory Capital Management Inc. now owns 4,739,830 shares of the technology company’s stock valued at $105,556,000 after buying an additional 4,663,023 shares in the last quarter. Millennium Management LLC increased its position in Infosys by 67.9% during the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock worth $141,532,000 after buying an additional 3,074,432 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Infosys by 46.0% during the second quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company’s stock worth $97,467,000 after buying an additional 1,648,650 shares in the last quarter. Institutional investors and hedge funds own 16.20% of the company’s stock.

Infosys Stock Up 0.6 %

Shares of INFY stock opened at $23.40 on Friday. Infosys Limited has a twelve month low of $16.04 and a twelve month high of $23.63. The business has a fifty day simple moving average of $22.30 and a 200 day simple moving average of $21.36. The company has a market cap of $96.92 billion, a P/E ratio of 30.00, a P/E/G ratio of 3.77 and a beta of 1.00.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. The company had revenue of $4.89 billion for 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 period last year, the company posted $0.18 EPS. As a group, equities research analysts anticipate that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Tuesday, October 29th. This is an increase from Infosys’s previous semi-annual dividend of $0.20. This represents a dividend yield of 1.1%. Infosys’s dividend payout ratio is 53.85%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on INFY shares. StockNews.com upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research note on Thursday. Investec cut shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Hsbc Global Res upgraded Infosys from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. HSBC upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Finally, Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Two 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.85.

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.