Sustainable Growth Advisers LP reduced its position in shares of Infosys Limited (NYSE:INFY) by 11.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,479,940 shares of the technology company’s stock after selling 2,337,091 shares during the quarter. Sustainable Growth Advisers LP owned about 0.41% of Infosys worth $241,398,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of INFY. Envestnet Asset Management Inc. increased its holdings in Infosys by 41.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 499,237 shares of the technology company’s stock worth $6,894,000 after purchasing an additional 146,146 shares in the last quarter. First Trust Advisors LP increased its holdings in Infosys by 13.6% during the 2nd quarter. First Trust Advisors LP now owns 7,535,224 shares of the technology company’s stock worth $72,790,000 after purchasing an additional 902,028 shares in the last quarter. US Bancorp DE increased its holdings in Infosys by 15.7% during the 2nd quarter. US Bancorp DE now owns 63,292 shares of the technology company’s stock worth $611,000 after purchasing an additional 8,599 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in Infosys by 39.6% during the 2nd quarter. Advisor Group Holdings Inc. now owns 134,346 shares of the technology company’s stock worth $1,297,000 after purchasing an additional 38,136 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Infosys by 18.9% in the second quarter. Raymond James & Associates now owns 724,286 shares of the technology company’s stock valued at $6,997,000 after acquiring an additional 115,271 shares in the last quarter. 17.24% of the stock is currently owned by institutional investors and hedge funds.
INFY has been the subject of several recent analyst reports. Robert W. Baird lowered Infosys from a “neutral” rating to an “underperform” rating in a report on Thursday, October 15th. Zacks Investment Research lowered Infosys from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a report on Friday, October 16th. William Blair reaffirmed a “market perform” rating on shares of Infosys in a report on Wednesday, October 14th. Finally, BMO Capital Markets upped their target price on Infosys from $13.00 to $18.00 and gave the company a “market perform” rating in a report on Thursday, October 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $13.34.
Infosys (NYSE:INFY) last posted its earnings results on Wednesday, October 14th. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.23 billion. Infosys had a return on equity of 27.14% and a net margin of 18.85%. During the same quarter in the prior year, the business posted $0.13 earnings per share. On average, analysts forecast that Infosys Limited will post 0.59 earnings per share for the current fiscal year.
The business also recently announced a semi-annual dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, January 1st were given a dividend of $0.1359 per share. The ex-dividend date of this dividend was Friday, October 23rd. This represents a dividend yield of 1.6%. This is an increase from Infosys’s previous semi-annual dividend of $0.10. Infosys’s dividend payout ratio is currently 49.09%.
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 application development and management, independent validation, product engineering and management, infrastructure management, enterprise application management, and support and integration services.
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