Infosys Limited (NYSE:INFY) Stake Lessened by Avior Wealth Management LLC

Avior Wealth Management LLC decreased its position in shares of Infosys Limited (NYSE:INFY) by 7.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,782 shares of the technology company’s stock after selling 1,121 shares during the period. Avior Wealth Management LLC’s holdings in Infosys were worth $307,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Mizuho Securities Co. Ltd. acquired a new stake in shares of Infosys in the third quarter valued at $33,000. GAMMA Investing LLC raised its position in Infosys by 22.6% in the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after acquiring an additional 541 shares in the last quarter. Hilltop National Bank lifted its holdings in Infosys by 50.8% in the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after acquiring an additional 1,004 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Infosys by 126.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock valued at $56,000 after purchasing an additional 1,693 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of Infosys in the 2nd quarter worth approximately $162,000. 10.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on INFY. BMO Capital Markets upped their price target on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, October 18th. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a research report on Wednesday. Investec downgraded Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Two equities research 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. Based on data from MarketBeat.com, Infosys currently has a consensus rating of “Hold” and an average target price of $20.85.

Infosys Stock Performance

INFY stock opened at $22.80 on Friday. The stock has a market cap of $94.43 billion, a P/E ratio of 29.23, a P/E/G ratio of 3.51 and a beta of 1.00. The firm has a 50 day simple moving average of $22.24 and a 200 day simple moving average of $20.74. Infosys Limited has a 52 week low of $16.04 and a 52 week high of $23.48.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the business posted $0.18 EPS. Sell-side analysts predict that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were given a $0.2126 dividend. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. This represents a yield of 1.1%. The ex-dividend date was Tuesday, October 29th. Infosys’s dividend payout ratio is presently 53.85%.

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.