Northwest & Ethical Investments L.P. Decreases Stock Holdings in Infosys Limited (NYSE:INFY)

Northwest & Ethical Investments L.P. lessened its position in Infosys Limited (NYSE:INFY - Free Report) by 29.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 70,120 shares of the technology company's stock after selling 29,670 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Infosys were worth $1,562,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Mizuho Securities Co. Ltd. bought a new stake in Infosys in the third quarter valued at $33,000. GAMMA Investing LLC increased 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 valued at $55,000 after buying an additional 541 shares during the period. Hilltop National Bank raised its stake in Infosys by 50.8% in the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company's stock worth $55,000 after buying an additional 1,004 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted 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 worth $56,000 after buying an additional 1,693 shares during the period. Finally, Ridgewood Investments LLC purchased a new stake in Infosys in the second quarter worth about $162,000. Hedge funds and other institutional investors own 10.89% of the company's stock.

Analyst Ratings Changes

INFY has been the subject of several research reports. Erste Group Bank raised Infosys from a "hold" rating to a "buy" rating in a research report on Wednesday, September 11th. StockNews.com downgraded Infosys from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th. Investec cut shares of Infosys from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. Finally, BMO Capital Markets increased their price target on shares of Infosys from $23.00 to $25.00 and gave the stock a "market perform" rating in a research note on Friday, October 18th. Two 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 stock has a consensus rating of "Hold" and a consensus price target of $20.85.

Infosys Price Performance

Shares of NYSE:INFY traded down $0.67 during mid-day trading on Friday, reaching $22.07. 5,620,906 shares of the company traded hands, compared to its average volume of 9,178,203. The company's 50 day moving average price is $22.23 and its 200-day moving average price is $20.94. The firm has a market cap of $91.41 billion, a PE ratio of 28.29, a PEG ratio of 3.67 and a beta of 1.00. Infosys Limited has a 52 week low of $16.04 and a 52 week high of $23.48.

Infosys (NYSE:INFY - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.19. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a return on equity of 31.43% and a net margin of 17.15%. During the same period in the prior year, the business posted $0.18 earnings per share. On average, research analysts predict that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

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

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.