Atria Investments Inc Sells 15,434 Shares of Infosys Limited (NYSE:INFY)

Atria Investments Inc cut its stake in shares of Infosys Limited (NYSE:INFY) by 24.5% during the 3rd quarter, Holdings Channel reports. The fund owned 47,643 shares of the technology company’s stock after selling 15,434 shares during the period. Atria Investments Inc’s holdings in Infosys were worth $1,061,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hilltop National Bank raised its position in shares of Infosys by 50.8% during the second 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 during the period. 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 during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of 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 last quarter. Ridgewood Investments LLC acquired a new stake in shares of Infosys in the 2nd quarter worth about $162,000. Finally, Bank Pictet & Cie Europe AG bought a new position in Infosys in the 2nd quarter valued at about $194,000. 10.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on INFY shares. StockNews.com raised Infosys from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. 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 report on Friday, October 18th. Finally, Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Infosys has an average rating of “Hold” and an average target price of $20.85.

Infosys Stock Performance

Shares of NYSE:INFY opened at $21.53 on Monday. The company has a market capitalization of $89.17 billion, a P/E ratio of 27.60, a price-to-earnings-growth ratio of 3.48 and a beta of 1.00. The company’s 50-day moving average is $22.33 and its 200 day moving average is $20.61. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.48.

Infosys (NYSE:INFY) last released its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a net margin of 17.15% and a return on equity of 31.43%. During the same period in the prior year, the firm earned $0.18 EPS. As a group, research analysts predict that Infosys Limited will post 0.75 earnings per share 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 paid a $0.2126 dividend. The ex-dividend date was Tuesday, October 29th. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. This represents a dividend yield of 1.1%. Infosys’s 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.