Royal London Asset Management Ltd. Sells 110,400 Shares of Infosys Limited (NYSE:INFY)

Royal London Asset Management Ltd. trimmed its position in shares of Infosys Limited (NYSE:INFY - Free Report) by 7.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,398,953 shares of the technology company's stock after selling 110,400 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Infosys were worth $31,155,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Robeco Institutional Asset Management B.V. raised its position in Infosys by 68.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company's stock valued at $542,051,000 after buying an additional 9,923,744 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Infosys by 37.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company's stock valued at $401,826,000 after buying an additional 5,862,144 shares during the last quarter. Fisher Asset Management LLC raised its position in Infosys by 9.7% in the 3rd quarter. Fisher Asset Management LLC now owns 14,415,018 shares of the technology company's stock valued at $321,022,000 after buying an additional 1,271,890 shares during the last quarter. Millennium Management LLC raised its position in Infosys by 67.9% in the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company's stock valued at $141,532,000 after buying an additional 3,074,432 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Infosys by 10.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,248,026 shares of the technology company's stock valued at $116,338,000 after buying an additional 570,435 shares during the last quarter. 10.89% of the stock is owned by hedge funds and other institutional investors.

Infosys Trading Up 0.0 %

Shares of INFY stock traded up $0.01 on Friday, hitting $22.87. 4,708,713 shares of the stock were exchanged, compared to its average volume of 9,113,461. The firm has a market capitalization of $94.73 billion, a PE ratio of 29.31, a P/E/G ratio of 3.57 and a beta of 1.00. Infosys Limited has a one year low of $16.04 and a one year high of $23.48. The firm's 50 day moving average is $22.20 and its two-hundred day moving average is $21.08.

Infosys (NYSE:INFY - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the company earned $0.18 EPS. On average, sell-side 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 was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were paid a $0.2126 dividend. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a yield of 1.1%. This is an increase from Infosys's previous semi-annual dividend of $0.20. Infosys's dividend payout ratio (DPR) is currently 53.85%.

Analysts Set New Price Targets

A number of research firms recently commented on INFY. BMO Capital Markets increased their price target on Infosys from $23.00 to $25.00 and gave the company a "market perform" rating in a research report on Friday, October 18th. StockNews.com lowered Infosys from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Investec lowered Infosys from a "hold" rating to a "sell" rating in a research report on Thursday, October 3rd. Finally, Erste Group Bank raised Infosys from a "hold" rating to a "buy" rating in a research report on Wednesday, September 11th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus 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.