Infosys Limited (NYSE:INFY) Holdings Trimmed by SRN Advisors LLC

SRN Advisors LLC cut its holdings in Infosys Limited (NYSE:INFY) by 49.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,921 shares of the technology company’s stock after selling 23,959 shares during the quarter. SRN Advisors LLC’s holdings in Infosys were worth $555,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of INFY. Hilltop National Bank grew its position in Infosys by 50.8% during the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after purchasing an additional 1,004 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Infosys by 22.6% during the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after buying an additional 541 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Infosys by 126.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock valued at $56,000 after buying an additional 1,693 shares during the period. Ridgewood Investments LLC acquired a new position in Infosys during the second quarter valued at $162,000. Finally, Bank Pictet & Cie Europe AG purchased a new stake in Infosys in the 2nd quarter worth about $194,000. 10.89% of the stock is owned by institutional investors and hedge funds.

Infosys Stock Down 0.7 %

NYSE:INFY opened at $21.89 on Friday. Infosys Limited has a 12-month low of $16.04 and a 12-month high of $23.48. The stock’s fifty day simple moving average is $22.71 and its 200-day simple moving average is $20.13. The firm has a market capitalization of $90.66 billion, a P/E ratio of 28.06, a P/E/G ratio of 3.57 and a beta of 0.99.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. Infosys had a net margin of 17.15% and a return on equity of 31.43%. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period last year, the firm posted $0.18 earnings per share. As a group, equities research analysts expect that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st will be paid a $0.2126 dividend. This is an increase from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a dividend yield of 1.1%. Infosys’s dividend payout ratio (DPR) is currently 37.18%.

Analysts Set New Price Targets

Several analysts recently commented on INFY shares. BMO Capital Markets raised their price target on shares of Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, Investec downgraded Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.85.

About Infosys

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.