Infosys Limited (NYSE:INFY) Stock Position Trimmed by Oldfield Partners LLP

Oldfield Partners LLP decreased its holdings in Infosys Limited (NYSE:INFY) by 15.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 463,398 shares of the technology company’s stock after selling 86,800 shares during the quarter. Infosys makes up approximately 2.2% of Oldfield Partners LLP’s holdings, making the stock its 9th largest holding. Oldfield Partners LLP’s holdings in Infosys were worth $10,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC grew its position in Infosys by 33.0% during the first quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock valued at $43,000 after acquiring an additional 593 shares during the period. Hilltop National Bank increased its position in Infosys by 50.8% during the 2nd 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 in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Infosys by 126.7% in 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 period. Ridgewood Investments LLC acquired a new position in Infosys during the second quarter valued at approximately $162,000. Finally, Bank Pictet & Cie Europe AG purchased a new stake in Infosys during the second quarter worth approximately $194,000. Institutional investors and hedge funds own 10.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a research report on Monday. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. BMO Capital Markets raised their target price on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a report on Friday. Finally, Investec cut Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.85.

Infosys Stock Down 1.4 %

Shares of INFY opened at $22.20 on Tuesday. Infosys Limited has a 52-week low of $16.04 and a 52-week high of $23.48. The firm has a market cap of $91.91 billion, a price-to-earnings ratio of 29.21, a PEG ratio of 3.68 and a beta of 0.99. The business’s 50 day moving average is $22.69 and its two-hundred day moving average is $20.03.

Infosys (NYSE:INFY) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $4.89 billion. Infosys had a net margin of 17.18% and a return on equity of 32.01%. During the same period in the prior year, the company posted $0.18 earnings per share. On average, equities analysts expect that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, October 29th. Investors of record on Friday, January 1st will be paid a $0.2126 dividend. This represents a yield of 1.1%. This is an increase from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date of this dividend is Tuesday, October 29th. Infosys’s dividend payout ratio (DPR) is 36.84%.

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.