Matthews International Capital Management LLC Sells 69,633 Shares of Infosys Limited (NYSE:INFY)

Matthews International Capital Management LLC lessened its stake in Infosys Limited (NYSE:INFY - Free Report) by 56.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,191 shares of the technology company's stock after selling 69,633 shares during the period. Matthews International Capital Management LLC's holdings in Infosys were worth $954,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new stake in shares of Infosys in the 4th quarter worth about $36,000. Planned Solutions Inc. purchased a new stake in Infosys during the fourth quarter valued at approximately $50,000. Jones Financial Companies Lllp purchased a new stake in Infosys during the fourth quarter valued at approximately $56,000. EverSource Wealth Advisors LLC lifted its position in Infosys by 113.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,130 shares of the technology company's stock valued at $58,000 after acquiring an additional 1,663 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in Infosys during the 4th quarter valued at approximately $123,000. Institutional investors own 10.89% of the company's stock.

Infosys Price Performance

Shares of NYSE:INFY traded down $0.12 during trading on Wednesday, hitting $18.22. 8,693,440 shares of the company were exchanged, compared to its average volume of 9,387,294. The stock has a market capitalization of $75.43 billion, a P/E ratio of 23.97, a PEG ratio of 3.38 and a beta of 0.96. Infosys Limited has a 12-month low of $15.33 and a 12-month high of $20.74. The firm's 50 day moving average price is $17.28 and its 200-day moving average price is $18.40.

Infosys (NYSE:INFY - Get Free Report) last released its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. The firm had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.49 billion. Infosys had a net margin of 17.06% and a return on equity of 32.33%. During the same quarter in the prior year, the firm earned $0.18 EPS. As a group, equities research analysts anticipate that Infosys Limited will post 0.75 EPS for the current year.

Infosys Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 31st were given a $0.2035 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a dividend yield of 1.4%. Infosys's dividend payout ratio is presently 38.16%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. StockNews.com lowered shares of Infosys from a "buy" rating to a "hold" rating in a research report on Tuesday, March 19th. BMO Capital Markets cut their price objective on shares of Infosys from $21.00 to $18.00 and set a "market perform" rating for the company in a research report on Friday, April 19th. Bank of America upgraded shares of Infosys from a "neutral" rating to a "buy" rating in a research report on Tuesday, April 9th. Wedbush restated an "outperform" rating and set a $22.00 price objective on shares of Infosys in a research report on Wednesday, March 13th. Finally, Susquehanna cut their price objective on shares of Infosys from $15.00 to $14.00 and set a "negative" rating for the company in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $19.27.

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.

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