Infosys Limited (NYSE:INFY) Stock Position Trimmed by SRN Advisors LLC

SRN Advisors LLC trimmed its position in Infosys Limited (NYSE:INFY - Free Report) by 49.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,921 shares of the technology company's stock after selling 23,959 shares during the quarter. SRN Advisors LLC's holdings in Infosys were worth $555,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mercer Global Advisors Inc. ADV boosted its position in Infosys by 2.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company's stock worth $328,000 after purchasing an additional 505 shares during the period. Outlook Wealth Advisors LLC boosted its position in shares of Infosys by 3.0% in the third quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company's stock worth $399,000 after buying an additional 526 shares during the period. GAMMA Investing LLC grew its stake in shares of Infosys by 22.6% in 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 in the last quarter. D Orazio & Associates Inc. raised its holdings in shares of Infosys by 4.1% during the 2nd quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company's stock valued at $274,000 after buying an additional 584 shares during the period. Finally, Somerset Trust Co lifted its position in Infosys by 4.2% during the 2nd quarter. Somerset Trust Co now owns 15,140 shares of the technology company's stock worth $282,000 after acquiring an additional 611 shares in the last quarter. 10.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on INFY shares. BMO Capital Markets lifted their price objective 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. Macquarie upgraded shares of Infosys from an "underperform" rating to a "neutral" rating in a report on Friday, July 19th. Investec downgraded Infosys from a "hold" rating to a "sell" rating in a research note on Thursday, October 3rd. StockNews.com cut Infosys from a "buy" rating to a "hold" rating in a research note on Monday, October 21st. Finally, Erste Group Bank upgraded Infosys from a "hold" rating to a "buy" rating in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Infosys currently has a consensus rating of "Hold" and an average target price of $20.85.

Infosys Stock Down 0.7 %

Shares of INFY traded down $0.16 during mid-day trading on Friday, hitting $21.89. The stock had a trading volume of 6,572,848 shares, compared to its average volume of 8,993,645. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.48. The company has a market cap of $90.66 billion, a PE ratio of 28.06, a PEG ratio of 3.57 and a beta of 0.99. The company's fifty day simple moving average is $22.71 and its two-hundred day simple moving average is $20.15.

Infosys (NYSE:INFY - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, hitting analysts' consensus estimates of $0.19. Infosys had a net margin of 17.15% and a return on equity of 31.43%. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. Equities analysts expect 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 will be paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st will be issued a dividend of $0.2126 per share. 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. This represents a dividend yield of 1.1%. Infosys's dividend payout ratio is 37.18%.

Infosys 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.