GAM Holding AG Reduces Holdings in Infosys Limited (NYSE:INFY)

GAM Holding AG lowered its position in Infosys Limited (NYSE:INFY - Free Report) by 7.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 476,773 shares of the technology company's stock after selling 40,735 shares during the period. GAM Holding AG's holdings in Infosys were worth $10,618,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of INFY. Waldron Private Wealth LLC lifted its position in Infosys by 20.2% during the third quarter. Waldron Private Wealth LLC now owns 18,422 shares of the technology company's stock valued at $410,000 after purchasing an additional 3,093 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Infosys by 2.5% in the third quarter. Signaturefd LLC now owns 87,484 shares of the technology company's stock worth $1,948,000 after purchasing an additional 2,128 shares during the last quarter. Surience Private Wealth LLC bought a new stake in Infosys during the third quarter worth approximately $3,329,000. Whittier Trust Co. of Nevada Inc. increased its stake in 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 acquiring an additional 766 shares during the last quarter. Finally, Whittier Trust Co. increased its stake in Infosys by 8.2% during the third quarter. Whittier Trust Co. now owns 22,397 shares of the technology company's stock worth $499,000 after acquiring an additional 1,702 shares during the last quarter. Institutional investors own 10.89% of the company's stock.

Infosys Stock Up 0.7 %

INFY traded up $0.16 on Wednesday, reaching $22.32. The company had a trading volume of 257,471 shares, compared to its average volume of 9,303,082. The stock has a market capitalization of $92.40 billion, a PE ratio of 29.34, a P/E/G ratio of 3.68 and a beta of 0.99. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.48. The stock has a 50-day moving average price of $22.70 and a 200-day moving average price of $20.06.

Infosys (NYSE:INFY - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting analysts' consensus estimates of $0.19. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. Infosys had a net margin of 17.18% and a return on equity of 32.01%. During the same period in the previous year, the business posted $0.18 earnings per share. As a group, analysts expect that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st will be issued a $0.2126 dividend. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, October 29th. This is a positive change from Infosys's previous semi-annual dividend of $0.20. Infosys's dividend payout ratio (DPR) is 36.84%.

Wall Street Analyst Weigh In

INFY has been the topic of several analyst reports. BMO Capital Markets boosted their price objective on Infosys from $23.00 to $25.00 and gave the stock a "market perform" rating in a research note on Friday, October 18th. Investec cut Infosys from a "hold" rating to a "sell" rating in a research note on Thursday, October 3rd. Macquarie upgraded Infosys from an "underperform" rating to a "neutral" rating in a report on Friday, July 19th. Erste Group Bank raised Infosys from a "hold" rating to a "buy" rating in a research report on Wednesday, September 11th. Finally, StockNews.com lowered shares of Infosys from a "buy" rating to a "hold" rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $20.85.

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.