Advisors Asset Management Inc. Sells 13,121 Shares of Infosys Limited (NYSE:INFY)

Advisors Asset Management Inc. reduced its holdings in Infosys Limited (NYSE:INFY) by 14.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 78,364 shares of the technology company’s stock after selling 13,121 shares during the quarter. Advisors Asset Management Inc.’s holdings in Infosys were worth $1,745,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV grew its stake in shares of Infosys by 2.9% in the 2nd 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. Outlook Wealth Advisors LLC increased its holdings in shares of Infosys by 3.0% during the third quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company’s stock valued at $399,000 after acquiring an additional 526 shares in the last quarter. GAMMA Investing LLC raised its position 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 worth $55,000 after purchasing an additional 541 shares during the period. D Orazio & Associates Inc. raised its position in shares of Infosys by 4.1% during the second quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock worth $274,000 after purchasing an additional 584 shares during the period. Finally, Somerset Trust Co lifted its holdings in shares of Infosys by 4.2% in the 2nd quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock worth $282,000 after purchasing an additional 611 shares in the last quarter. 10.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. BMO Capital Markets upped their target price 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. Investec downgraded Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Finally, Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.85.

Infosys Stock Up 3.8 %

INFY stock opened at $22.79 on Monday. The business has a 50 day moving average of $22.24 and a 200-day moving average of $20.79. The firm has a market cap of $94.39 billion, a PE ratio of 29.22, a P/E/G ratio of 3.55 and a beta of 1.00. Infosys Limited has a 12-month low of $16.04 and a 12-month high of $23.48.

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

Infosys Increases Dividend

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

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.