Infosys Ltd. to Issue Dividend of $0.17 (INFY)
Infosys Ltd. (NYSE:INFY) declared a dividend on Friday, October 14th. Shareholders of record on Monday, October 24th will be given a dividend of 0.17 per share on Wednesday, October 26th. The ex-dividend date is Thursday, October 20th.
Infosys (NYSE:INFY) opened at 15.66 on Friday. The firm has a market capitalization of $35.79 billion, a price-to-earnings ratio of 17.21 and a beta of 1.07. The firm’s 50-day moving average price is $16.01 and its 200 day moving average price is $17.50. Infosys has a 1-year low of $15.48 and a 1-year high of $20.47.
Infosys (NYSE:INFY) last posted its earnings results on Friday, October 14th. The company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.60 billion. Infosys had a return on equity of 23.24% and a net margin of 21.41%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 EPS. On average, analysts predict that Infosys will post $0.95 EPS for the current year.
Hedge funds have recently made changes to their positions in the company. State Street Corp increased its stake in shares of Infosys by 5.0% in the second quarter. State Street Corp now owns 7,055,356 shares of the company’s stock valued at $125,938,000 after buying an additional 333,037 shares in the last quarter. Pictet Asset Management Ltd. increased its stake in shares of Infosys by 99.8% in the second quarter. Pictet Asset Management Ltd. now owns 514,425 shares of the company’s stock valued at $10,000,000 after buying an additional 257,000 shares in the last quarter. Ativo Capital Management LLC increased its stake in shares of Infosys by 44.5% in the second quarter. Ativo Capital Management LLC now owns 48,116 shares of the company’s stock valued at $859,000 after buying an additional 14,807 shares in the last quarter. Stevens Capital Management LP acquired a new stake in shares of Infosys during the second quarter valued at $1,464,000. Finally, Raymond James & Associates increased its stake in shares of Infosys by 949.2% in the second quarter. Raymond James & Associates now owns 264,538 shares of the company’s stock valued at $4,722,000 after buying an additional 239,324 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.
Several research firms recently issued reports on INFY. Nomura downgraded Infosys from a “buy” rating to a “neutral” rating in a research note on Monday, July 18th. Cantor Fitzgerald restated a “hold” rating on shares of Infosys in a research note on Monday, August 8th. Zacks Investment Research upgraded Infosys from a “sell” rating to a “hold” rating in a research note on Wednesday, August 17th. BMO Capital Markets restated a “hold” rating on shares of Infosys in a research note on Monday, July 18th. Finally, Credit Suisse Group AG downgraded Infosys from an “outperform” rating to a “neutral” rating and boosted their price target for the company from $15.71 to $16.81 in a research note on Monday, July 18th. Thirteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $17.97.
Infosys Company Profile
Infosys Limited is engaged in consulting, technology, outsourcing and next-generation services. The Company, along with its subsidiaries, provides business information technology services comprising application development and maintenance, independent validation, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking solution, and offerings in the areas of Analytics, Cloud and Digital Transformation.
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