Geode Capital Management LLC Lowers Stake in Infosys Limited (NYSE:INFY)

Geode Capital Management LLC lessened its stake in Infosys Limited (NYSE:INFY) by 6.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 754,613 shares of the technology company’s stock after selling 53,221 shares during the quarter. Geode Capital Management LLC’s holdings in Infosys were worth $16,805,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV increased its holdings in Infosys by 2.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock valued at $328,000 after buying an additional 505 shares during the period. Canopy Partners LLC raised its position in shares of Infosys by 3.1% in the 3rd quarter. Canopy Partners LLC now owns 17,129 shares of the technology company’s stock worth $381,000 after acquiring an additional 522 shares in the last quarter. Outlook Wealth Advisors LLC lifted its stake in shares of Infosys by 3.0% during the 3rd quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company’s stock worth $399,000 after purchasing an additional 526 shares during the last quarter. D Orazio & Associates Inc. boosted its position in Infosys by 4.1% during the second quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock valued at $274,000 after purchasing an additional 584 shares in the last quarter. Finally, Modera Wealth Management LLC boosted its position in Infosys by 0.4% during the third quarter. Modera Wealth Management LLC now owns 183,028 shares of the technology company’s stock valued at $4,076,000 after purchasing an additional 653 shares in the last quarter. Institutional investors own 16.20% of the company’s stock.

Infosys Stock Performance

Shares of INFY opened at $22.48 on Monday. The company has a market capitalization of $93.11 billion, a P/E ratio of 28.82, a P/E/G ratio of 3.77 and a beta of 1.00. The business’s 50-day moving average is $22.28 and its two-hundred day moving average is $21.78. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.63.

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, meeting the consensus estimate of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period last year, the business earned $0.18 earnings per share. Analysts forecast that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were issued a dividend of $0.2126 per share. The ex-dividend date of this dividend was Tuesday, October 29th. This is an increase from Infosys’s previous semi-annual dividend of $0.20. This represents a yield of 1.1%. Infosys’s dividend payout ratio is 53.85%.

Analyst Upgrades and Downgrades

INFY has been the subject of several analyst reports. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. HSBC raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. StockNews.com upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Investec downgraded Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Finally, Hsbc Global Res raised Infosys from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Infosys has an average rating of “Moderate Buy” and an average price target of $20.85.

Infosys Company Profile

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other.