Euro Pacific Asset Management LLC Reduces Stock Holdings in Infosys Limited (NYSE:INFY)

Euro Pacific Asset Management LLC lessened its stake in shares of Infosys Limited (NYSE:INFY - Free Report) by 40.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 67,326 shares of the technology company's stock after selling 46,194 shares during the period. Euro Pacific Asset Management LLC's holdings in Infosys were worth $1,502,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Cable Hill Partners LLC grew its position in Infosys by 29.0% during the 3rd quarter. Cable Hill Partners LLC now owns 16,874 shares of the technology company's stock worth $376,000 after purchasing an additional 3,790 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Infosys during the 3rd quarter worth approximately $33,000. D Orazio & Associates Inc. grew its position in Infosys by 9.1% during the 3rd quarter. D Orazio & Associates Inc. now owns 16,068 shares of the technology company's stock worth $358,000 after purchasing an additional 1,344 shares during the last quarter. Empower Advisory Group LLC grew its position in Infosys by 23.4% during the 3rd quarter. Empower Advisory Group LLC now owns 20,120 shares of the technology company's stock worth $448,000 after purchasing an additional 3,820 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Infosys by 6,071.1% during the 3rd quarter. Victory Capital Management Inc. now owns 4,739,830 shares of the technology company's stock worth $105,556,000 after purchasing an additional 4,663,023 shares during the last quarter. Hedge funds and other institutional investors own 10.89% of the company's stock.

Infosys Stock Performance

Shares of NYSE INFY traded down $0.29 during mid-day trading on Friday, reaching $21.53. The company's stock had a trading volume of 7,650,501 shares, compared to its average volume of 9,246,825. The stock has a 50-day moving average of $22.33 and a two-hundred day moving average of $20.56. The stock has a market capitalization of $89.17 billion, a P/E ratio of 27.60, a P/E/G ratio of 3.56 and a beta of 1.00. Infosys Limited has a 1-year low of $16.04 and a 1-year high of $23.48.

Infosys (NYSE:INFY - Get Free Report) last issued its earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting analysts' consensus estimates of $0.19. The business had revenue of $4.89 billion during the quarter, compared to analysts' expectations 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 business earned $0.18 earnings per share. Analysts predict that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Macquarie raised shares of Infosys from an "underperform" rating to a "neutral" rating in a report on Friday, July 19th. StockNews.com upgraded shares of Infosys from a "hold" rating to a "buy" rating in a research note on Tuesday. Erste Group Bank upgraded shares of Infosys from a "hold" rating to a "buy" rating in a research note on Wednesday, September 11th. BMO Capital Markets boosted their target price on shares of Infosys from $23.00 to $25.00 and gave the company a "market perform" rating in a research note on Friday, October 18th. Finally, Investec cut shares of Infosys from a "hold" rating to a "sell" rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $20.85.

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.