Synovus Financial Corp Sells 57,841 Shares of Infosys Limited (NYSE:INFY)

Synovus Financial Corp cut its holdings in shares of Infosys Limited (NYSE:INFY - Free Report) by 30.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,952 shares of the technology company's stock after selling 57,841 shares during the quarter. Synovus Financial Corp's holdings in Infosys were worth $3,005,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Cetera Advisors LLC bought a new stake in shares of Infosys in the first quarter valued at about $210,000. SG Americas Securities LLC grew its position in shares of Infosys by 138.3% during the 2nd quarter. SG Americas Securities LLC now owns 57,860 shares of the technology company's stock worth $1,077,000 after purchasing an additional 33,577 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Infosys by 93.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,394 shares of the technology company's stock worth $566,000 after purchasing an additional 14,721 shares during the period. Blue Trust Inc. raised its position in shares of Infosys by 134.6% in the second quarter. Blue Trust Inc. now owns 22,411 shares of the technology company's stock valued at $402,000 after buying an additional 12,858 shares in the last quarter. Finally, Freedom Day Solutions LLC boosted its stake in shares of Infosys by 4.4% in the second quarter. Freedom Day Solutions LLC now owns 88,177 shares of the technology company's stock valued at $1,642,000 after buying an additional 3,750 shares during the period. Institutional investors own 16.20% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on INFY shares. Investec lowered Infosys from a "hold" rating to a "sell" rating in a research note on Thursday, October 3rd. HSBC upgraded Infosys from a "hold" rating to a "buy" rating in a research note on Monday, December 9th. BMO Capital Markets boosted their target price on shares of Infosys from $23.00 to $25.00 and gave the stock a "market perform" rating in a report on Friday, October 18th. Hsbc Global Res upgraded Infosys from a "hold" rating to a "strong-buy" rating in a report on Monday, December 9th. Finally, Erste Group Bank raised Infosys from a "hold" rating to a "buy" rating in a report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $20.85.

Infosys Trading Up 0.6 %

Shares of INFY traded up $0.15 on Friday, reaching $23.40. 4,443,501 shares of the company's stock traded hands, compared to its average volume of 9,045,886. The stock's 50 day simple moving average is $22.30 and its two-hundred day simple moving average is $21.36. The stock has a market cap of $96.92 billion, a PE ratio of 30.00, a PEG ratio of 3.77 and a beta of 1.00. Infosys Limited has a 52-week low of $16.04 and a 52-week high of $23.63.

Infosys (NYSE:INFY - Get Free Report) last announced its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period last year, the firm posted $0.18 EPS. Analysts forecast that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

The company 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 was 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 payout ratio is presently 53.85%.

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.