Waverton Investment Management Ltd Sells 42,610 Shares of Infosys Limited (NYSE:INFY)

Waverton Investment Management Ltd cut its stake in Infosys Limited (NYSE:INFY - Free Report) by 14.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,773 shares of the technology company's stock after selling 42,610 shares during the period. Waverton Investment Management Ltd's holdings in Infosys were worth $5,628,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in INFY. International Assets Investment Management LLC bought a new stake in Infosys during the third quarter worth approximately $16,560,000. Baader Bank Aktiengesellschaft acquired a new position in Infosys in the 2nd quarter worth approximately $529,000. US Bancorp DE boosted its stake in Infosys by 36.5% in the 1st quarter. US Bancorp DE now owns 188,338 shares of the technology company's stock worth $3,377,000 after purchasing an additional 50,399 shares during the period. Edmond DE Rothschild Holding S.A. boosted its stake in Infosys by 105.4% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 71,485 shares of the technology company's stock worth $1,282,000 after purchasing an additional 36,680 shares during the period. Finally, Panagora Asset Management Inc. boosted its stake in Infosys by 52.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,010,512 shares of the technology company's stock worth $18,816,000 after purchasing an additional 348,018 shares during the period. 10.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on INFY shares. BMO Capital Markets raised their price objective on shares of Infosys from $23.00 to $25.00 and gave the stock a "market perform" rating in a research note on Friday, October 18th. Erste Group Bank upgraded shares of Infosys from a "hold" rating to a "buy" rating in a research report on Wednesday, September 11th. Macquarie upgraded shares of Infosys from an "underperform" rating to a "neutral" rating in a research report on Friday, July 19th. Investec downgraded shares of Infosys from a "hold" rating to a "sell" rating in a research report on Thursday, October 3rd. Finally, StockNews.com upgraded shares of Infosys from a "hold" rating to a "buy" rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Infosys has an average rating of "Hold" and an average target price of $20.85.

Infosys Stock Down 0.1 %

NYSE INFY traded down $0.03 during midday trading on Tuesday, hitting $22.01. The company had a trading volume of 3,848,785 shares, compared to its average volume of 9,285,586. The stock has a market cap of $91.16 billion, a price-to-earnings ratio of 28.35, a P/E/G ratio of 3.51 and a beta of 1.00. The firm has a fifty day simple moving average of $22.42 and a two-hundred day simple moving average of $20.47. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.48.

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 (EPS) for the quarter, hitting the consensus estimate 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 17.15% and a return on equity of 31.43%. During the same period last year, the business posted $0.18 EPS. As a group, equities analysts predict 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 given a dividend of $0.2126 per share. This is a positive change from Infosys's previous semi-annual dividend of $0.20. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, October 29th. Infosys's payout ratio is 53.85%.

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.