Nordea Investment Management AB Sells 409,513 Shares of Infosys Limited (NYSE:INFY)

Nordea Investment Management AB lowered its stake in Infosys Limited (NYSE:INFY - Free Report) by 15.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,246,498 shares of the technology company's stock after selling 409,513 shares during the quarter. Nordea Investment Management AB owned about 0.05% of Infosys worth $49,423,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Mizuho Securities Co. Ltd. acquired a new position in Infosys in the 3rd quarter worth $33,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Infosys in the third quarter valued at about $57,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Infosys by 25.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 3,795 shares of the technology company's stock worth $85,000 after buying an additional 766 shares during the period. GAMMA Investing LLC grew its holdings in shares of Infosys by 34.3% during the third quarter. GAMMA Investing LLC now owns 3,936 shares of the technology company's stock worth $88,000 after buying an additional 1,005 shares in the last quarter. Finally, Advisor Resource Council acquired a new stake in Infosys in the 3rd quarter valued at approximately $202,000. Institutional investors and hedge funds own 16.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Hsbc Global Res raised Infosys from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 9th. Investec cut shares of Infosys from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. BMO Capital Markets lifted their price target 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. StockNews.com downgraded shares of Infosys from a "buy" rating to a "hold" rating in a research note on Friday, January 3rd. Finally, Erste Group Bank raised Infosys from a "hold" rating to a "buy" rating in a research report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Infosys currently has an average rating of "Hold" and a consensus price target of $20.85.

Infosys Price Performance

NYSE INFY traded up $0.15 during trading on Wednesday, reaching $22.76. 6,199,711 shares of the company's stock were exchanged, compared to its average volume of 5,315,899. The business has a 50 day moving average price of $22.36 and a 200-day moving average price of $22.00. The stock has a market capitalization of $94.27 billion, a P/E ratio of 29.18, a PEG ratio of 3.77 and a beta of 1.00. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.63.

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, hitting the consensus estimate of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the previous year, the company posted $0.18 EPS. On average, analysts forecast that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were paid a dividend of $0.2126 per share. 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 dividend payout ratio (DPR) is currently 53.85%.

Infosys Company Profile

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other.