Comgest Global Investors S.A.S. Sells 57,980 Shares of Infosys Limited (NYSE:INFY)

Comgest Global Investors S.A.S. cut its position in Infosys Limited (NYSE:INFY - Free Report) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,414,493 shares of the technology company's stock after selling 57,980 shares during the period. Infosys accounts for approximately 0.5% of Comgest Global Investors S.A.S.'s investment portfolio, making the stock its 29th biggest holding. Comgest Global Investors S.A.S.'s holdings in Infosys were worth $31,501,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted its stake in Infosys by 68.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company's stock valued at $542,051,000 after purchasing an additional 9,923,744 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Infosys by 37.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company's stock valued at $401,826,000 after acquiring an additional 5,862,144 shares in the last quarter. Millennium Management LLC boosted its holdings in Infosys by 67.9% during the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company's stock worth $141,532,000 after acquiring an additional 3,074,432 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Infosys by 10.0% in the second quarter. Bank of New York Mellon Corp now owns 6,248,026 shares of the technology company's stock valued at $116,338,000 after purchasing an additional 570,435 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Infosys by 13.4% during the second quarter. Dimensional Fund Advisors LP now owns 6,040,195 shares of the technology company's stock worth $112,481,000 after purchasing an additional 715,812 shares during the last quarter. 10.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Macquarie raised Infosys from an "underperform" rating to a "neutral" rating in a research report on Friday, July 19th. 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 research report on Friday, October 18th. Investec downgraded shares of Infosys from a "hold" rating to a "sell" rating in a research report on Thursday, October 3rd. Erste Group Bank upgraded shares of Infosys from a "hold" rating to a "buy" rating in a research note on Wednesday, September 11th. Finally, StockNews.com raised Infosys from a "hold" rating to a "buy" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $20.85.

Infosys Stock Performance

Infosys stock traded down $0.29 during mid-day trading on Friday, hitting $21.53. 7,650,501 shares of the company traded hands, compared to its average volume of 9,246,825. Infosys Limited has a one year low of $16.04 and a one year high of $23.48. The stock has a market cap of $89.17 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00. The stock has a fifty day moving average price of $22.33 and a 200-day moving average price of $20.56.

Infosys (NYSE:INFY - Get Free Report) last issued its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The business 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 quarter in the prior year, the firm earned $0.18 earnings per share. Sell-side analysts predict 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. Shareholders of record on Friday, January 1st were given a dividend of $0.2126 per share. The ex-dividend date was Tuesday, October 29th. This represents a yield of 1.1%. This is a boost from Infosys's previous semi-annual dividend of $0.20. Infosys's dividend payout ratio is presently 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.