Janney Montgomery Scott LLC Sells 10,521 Shares of Infosys Limited (NYSE:INFY)

Janney Montgomery Scott LLC cut its position in Infosys Limited (NYSE:INFY) by 1.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 832,748 shares of the technology company’s stock after selling 10,521 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Infosys were worth $18,545,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Americana Partners LLC grew its position in shares of Infosys by 6.0% in the 3rd quarter. Americana Partners LLC now owns 13,723 shares of the technology company’s stock worth $306,000 after buying an additional 776 shares during the last quarter. US Bancorp DE grew its holdings in Infosys by 39.5% in the third quarter. US Bancorp DE now owns 272,974 shares of the technology company’s stock worth $6,079,000 after purchasing an additional 77,226 shares during the last quarter. Financial Advocates Investment Management grew its holdings in Infosys by 5.9% in the third quarter. Financial Advocates Investment Management now owns 22,574 shares of the technology company’s stock worth $503,000 after purchasing an additional 1,262 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Infosys by 9.8% during the third quarter. First Trust Direct Indexing L.P. now owns 76,989 shares of the technology company’s stock worth $1,715,000 after purchasing an additional 6,852 shares in the last quarter. Finally, abrdn plc boosted its position in shares of Infosys by 164.4% in the 3rd quarter. abrdn plc now owns 321,227 shares of the technology company’s stock worth $7,123,000 after purchasing an additional 199,748 shares in the last quarter. 10.89% of the stock is owned by hedge funds and other institutional investors.

Infosys Price Performance

NYSE INFY opened at $20.71 on Wednesday. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.48. The company has a market capitalization of $85.78 billion, a PE ratio of 26.55, a P/E/G ratio of 3.35 and a beta of 1.00. The company has a fifty day moving average of $22.53 and a 200 day moving average of $20.34.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the firm posted $0.18 EPS. Research analysts expect that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were paid a dividend of $0.2126 per share. This is a boost from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date was Tuesday, October 29th. This represents a dividend yield of 1.1%. Infosys’s dividend payout ratio (DPR) is presently 55.13%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on INFY shares. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. BMO Capital Markets lifted their price objective on shares of Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.85.

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.