Infosys Limited (NYSE:INFY) Shares Sold by Veritas Asset Management LLP

Veritas Asset Management LLP trimmed its holdings in shares of Infosys Limited (NYSE:INFY - Free Report) by 53.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 194,488 shares of the technology company's stock after selling 225,512 shares during the period. Veritas Asset Management LLP's holdings in Infosys were worth $4,331,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. BSW Wealth Partners grew its holdings in Infosys by 12.9% during the third quarter. BSW Wealth Partners now owns 20,199 shares of the technology company's stock worth $450,000 after acquiring an additional 2,313 shares during the period. Americana Partners LLC grew its stake in shares of Infosys by 6.0% during the 3rd quarter. Americana Partners LLC now owns 13,723 shares of the technology company's stock worth $306,000 after purchasing an additional 776 shares during the period. US Bancorp DE increased its holdings in shares of Infosys by 39.5% during the 3rd quarter. US Bancorp DE now owns 272,974 shares of the technology company's stock valued at $6,079,000 after purchasing an additional 77,226 shares in the last quarter. Financial Advocates Investment Management lifted its stake in shares of Infosys by 5.9% in the 3rd quarter. Financial Advocates Investment Management now owns 22,574 shares of the technology company's stock valued at $503,000 after purchasing an additional 1,262 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its holdings in Infosys by 9.8% during the third quarter. First Trust Direct Indexing L.P. now owns 76,989 shares of the technology company's stock worth $1,715,000 after buying an additional 6,852 shares in the last quarter. Institutional investors and hedge funds own 10.89% of the company's stock.

Infosys Price Performance

Shares of Infosys stock traded down $0.15 during trading on Friday, hitting $20.76. 9,285,521 shares of the stock were exchanged, compared to its average volume of 8,257,069. The stock has a market cap of $85.98 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 3.37 and a beta of 1.00. The firm's 50-day moving average price is $22.61 and its 200 day moving average price is $20.28. Infosys Limited has a 12-month low of $16.04 and a 12-month high of $23.48.

Infosys (NYSE:INFY - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 earnings per share 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 company had revenue of $4.89 billion for the quarter, compared to analysts' expectations of $4.89 billion. During the same quarter last year, the company earned $0.18 earnings per share. As a group, research analysts forecast that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were issued a $0.2126 dividend. This represents a dividend yield of 1.1%. This is a boost from Infosys's previous semi-annual dividend of $0.20. The ex-dividend date of this dividend was Tuesday, October 29th. Infosys's payout ratio is presently 55.13%.

Analysts Set New Price Targets

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