Infosys Ltd. to Issue Dividend of $0.17 (INFY)
Infosys Ltd. (NYSE:INFY) announced a dividend on Friday, October 14th. Investors of record on Monday, October 24th will be paid a dividend of 0.17 per share on Wednesday, October 26th. The ex-dividend date of this dividend is Thursday, October 20th.
Shares of Infosys (NYSE:INFY) opened at 15.66 on Friday. Infosys has a 12 month low of $15.48 and a 12 month high of $20.47. The company’s 50 day moving average price is $16.01 and its 200 day moving average price is $17.50. The company has a market capitalization of $35.79 billion, a P/E ratio of 17.21 and a beta of 1.07.
Infosys (NYSE:INFY) last released its earnings results on Friday, October 14th. The company reported $0.24 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.24. Infosys had a return on equity of 23.24% and a net margin of 21.41%. The business earned $2.59 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period last year, the business posted $0.23 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. Analysts expect that Infosys will post $0.95 EPS for the current fiscal year.
Large investors have recently modified their holdings of the company. State Street Corp raised 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 during the period. Pictet Asset Management Ltd. raised 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 during the period. Ativo Capital Management LLC raised 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 during the period. Stevens Capital Management LP purchased a new stake in shares of Infosys during the second quarter valued at about $1,464,000. Finally, Raymond James & Associates raised 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 during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have issued reports on INFY shares. Wedbush started coverage on Infosys in a research report on Thursday, September 8th. They issued a “neutral” rating and a $18.00 target price for the company. Cantor Fitzgerald reiterated a “hold” rating and issued a $17.00 price target on shares of Infosys in a research report on Monday, September 12th. Zacks Investment Research upgraded Infosys from a “sell” rating to a “hold” rating in a research report on Wednesday, September 21st. Pacific Crest reiterated a “hold” rating on shares of Infosys in a research report on Monday, October 10th. Finally, Wells Fargo & Co. reiterated a “hold” rating on shares of Infosys in a research report on Tuesday, August 16th. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $17.97.
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.
Receive News & Ratings for Infosys Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infosys Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.