Prospera Financial Services Inc acquired a new position in Infosys Limited (NYSE:INFY – Get a rating) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,051 shares of the tech company, valued at around $26,000.
A number of other institutional investors also changed their positions in INFY. Commonwealth Equity Services LLC increased its stake in Infosys shares by 3.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 56,658 shares of the technology company worth $1,434,000 after purchasing an additional 1,695 shares during the period. Yousif Capital Management LLC bought a new position in shares of Infosys in the fourth quarter for a value of approximately $1,670,000. Northwestern Mutual Wealth Management Co. increased its stake in Infosys shares by 4.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 25,094 shares of the technology company worth $636,000 after buying 1,138 additional shares during the period. JFS Wealth Advisors LLC bought a new position in Infosys stock in the fourth quarter worth about $27,000. Finally, Advisor Group Holdings Inc. increased its stake in Infosys shares by 32.9% in the fourth quarter. Advisor Group Holdings Inc. now owns 118,495 shares of the technology company worth $2,999,000 after purchasing an additional 29,353 shares during the period. 15.42% of the shares are currently held by institutional investors.
Infosys is trading down 0.2%
NYSE INFI opened at $20.11 on Friday. The stock’s 50-day moving average is $18.87 and its two-hundred-day moving average is $20.90. The company has a market capitalization of $84.60 billion, a price-earnings ratio of 29.15, a PEG ratio of 2.84 and a beta of 0.96. Infosys Limited has a 1 year minimum of $17.52 and a 1 year maximum of $26.39.
Infosys increases its dividend
The company also recently disclosed a semi-annual dividend, which was paid on Thursday, June 30. Shareholders of record on Wednesday, June 1 received a dividend of $0.171 per share. This is an increase from Infosys’ previous semi-annual dividend of $0.14. The ex-dividend date was Tuesday, May 31. Infosys’ distribution rate is currently 49.28%.
Analysts set new price targets
INFY has been the subject of a number of recent analyst reports. StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a Monday, August 8 research rating. HSBC upgraded Infosys from a “hold” rating to a “buy” rating in a Tuesday, May 31 research note. Finally, Wedbush lowered its price target on Infosys from $30.00 to $25.00 and set an “outperform” rating on the stock in a Monday, July 25 research note. Three research analysts rated the stock with a hold rating and five gave the company a buy rating. According to data from MarketBeat.com, Infosys currently has an average rating of “Moderate Buy” and a consensus price target of $25.92.
Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing and next-generation digital services in North America, Europe, India and internationally. It provides application development and management, independent validation, product engineering and management, infrastructure management, enterprise application management, and support and integration services.
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