Deltec Asset Management LLC Reduces Stock Holdings in Infosys Limited (NYSE:INFY)

Deltec Asset Management LLC cut its holdings in Infosys Limited (NYSE:INFY) by 2.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,500 shares of the technology company’s stock after selling 4,250 shares during the period. Deltec Asset Management LLC’s holdings in Infosys were worth $2,609,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its position in shares of Infosys by 3.6% in the fourth quarter. First Trust Advisors LP now owns 25,209,033 shares of the technology company’s stock valued at $463,342,000 after acquiring an additional 884,833 shares in the last quarter. FIL Ltd lifted its holdings in Infosys by 5.9% in the 4th quarter. FIL Ltd now owns 18,459,935 shares of the technology company’s stock valued at $339,294,000 after purchasing an additional 1,031,371 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Infosys by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock worth $139,327,000 after purchasing an additional 180,888 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Infosys by 20.7% during the fourth quarter. Franklin Resources Inc. now owns 6,719,669 shares of the technology company’s stock worth $123,508,000 after buying an additional 1,150,885 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Infosys by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,360,152 shares of the technology company’s stock valued at $98,547,000 after buying an additional 209,675 shares during the last quarter. 10.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INFY has been the subject of several recent analyst reports. HSBC reaffirmed a “hold” rating and issued a $20.10 target price on shares of Infosys in a research note on Friday, April 19th. Bank of America upgraded Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. Guggenheim initiated coverage on Infosys in a report on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 price target for the company. Susquehanna dropped their price objective on shares of Infosys from $15.00 to $14.00 and set a “negative” rating for the company in a research note on Friday, April 19th. Finally, StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Infosys presently has a consensus rating of “Hold” and a consensus price target of $19.27.

Infosys Stock Performance

INFY traded down $0.01 on Friday, reaching $18.62. 9,520,327 shares of the company’s stock were exchanged, compared to its average volume of 8,946,987. Infosys Limited has a twelve month low of $15.33 and a twelve month high of $20.74. The company’s 50 day moving average is $17.38 and its 200-day moving average is $18.43. The company has a market cap of $77.09 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 3.43 and a beta of 0.96.

Infosys (NYSE:INFY) last released its quarterly earnings data on Thursday, April 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.49 billion. Infosys had a net margin of 17.06% and a return on equity of 32.33%. During the same quarter in the prior year, the business earned $0.18 earnings per share. Sell-side analysts forecast that Infosys Limited will post 0.75 EPS for the current year.

Infosys Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 31st were paid a dividend of $0.2035 per share. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, May 31st. Infosys’s dividend payout ratio is presently 38.16%.

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.