Sumitomo Mitsui Trust Holdings Inc. Acquires Shares of 196,250 Infosys Limited (INFY)
Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Infosys Limited (NYSE:INFY) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 196,250 shares of the technology company’s stock, valued at approximately $2,863,000.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Comerica Bank increased its stake in shares of Infosys by 28.1% in the 3rd quarter. Comerica Bank now owns 478,913 shares of the technology company’s stock worth $7,131,000 after acquiring an additional 105,129 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Infosys by 70.8% during the third quarter. DekaBank Deutsche Girozentrale now owns 878,715 shares of the technology company’s stock valued at $14,048,000 after acquiring an additional 364,300 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of Infosys in the 3rd quarter worth approximately $1,107,000. Grimes & Company Inc. boosted its holdings in shares of Infosys by 1.8% in the 3rd quarter. Grimes & Company Inc. now owns 391,614 shares of the technology company’s stock worth $5,714,000 after acquiring an additional 7,095 shares in the last quarter. Finally, Alps Advisors Inc. boosted its holdings in shares of Infosys by 8.3% in the 3rd quarter. Alps Advisors Inc. now owns 65,287 shares of the technology company’s stock worth $953,000 after acquiring an additional 5,000 shares in the last quarter. 18.95% of the stock is currently owned by institutional investors.
Infosys Limited (INFY) traded down $0.06 during trading hours on Thursday, hitting $15.50. 2,636,900 shares of the stock traded hands, compared to its average volume of 6,357,389. The company has a market capitalization of $35,565.16, a P/E ratio of 16.04, a PEG ratio of 1.69 and a beta of 0.68. Infosys Limited has a one year low of $13.42 and a one year high of $16.15.
Infosys (NYSE:INFY) last posted its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. Infosys had a net margin of 21.04% and a return on equity of 21.05%. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the firm posted $0.24 earnings per share. equities research analysts expect that Infosys Limited will post 0.98 EPS for the current year.
The business also recently announced a dividend, which was paid on Wednesday, November 1st. Stockholders of record on Wednesday, November 1st were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, October 31st. Infosys’s dividend payout ratio is 40.21%.
A number of brokerages recently weighed in on INFY. Zacks Investment Research raised shares of Infosys from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Tuesday, September 19th. Oppenheimer reiterated a “hold” rating on shares of Infosys in a research report on Tuesday, October 24th. Stifel Nicolaus reiterated a “hold” rating on shares of Infosys in a research report on Thursday, October 26th. Cowen restated a “hold” rating and issued a $15.00 target price on shares of Infosys in a research report on Thursday, October 12th. Finally, Cantor Fitzgerald restated a “hold” rating on shares of Infosys in a research report on Friday, August 25th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $15.34.
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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