First Trust Direct Indexing L.P. Sells 11,132 Shares of Infosys Limited (NYSE:INFY)

First Trust Direct Indexing L.P. trimmed its holdings in shares of Infosys Limited (NYSE:INFY) by 12.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,472 shares of the technology company’s stock after selling 11,132 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Infosys were worth $1,461,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Buckingham Capital Management Inc. raised its holdings in Infosys by 0.6% in the fourth quarter. Buckingham Capital Management Inc. now owns 87,324 shares of the technology company’s stock worth $1,605,000 after purchasing an additional 499 shares in the last quarter. HB Wealth Management LLC raised its holdings in Infosys by 5.7% in the fourth quarter. HB Wealth Management LLC now owns 10,661 shares of the technology company’s stock worth $196,000 after purchasing an additional 575 shares in the last quarter. GAMMA Investing LLC raised its holdings in Infosys by 33.0% in the first quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock worth $43,000 after purchasing an additional 593 shares in the last quarter. Marshall Financial Group LLC raised its holdings in Infosys by 1.2% in the fourth quarter. Marshall Financial Group LLC now owns 52,478 shares of the technology company’s stock worth $965,000 after purchasing an additional 622 shares in the last quarter. Finally, Drive Wealth Management LLC raised its holdings in Infosys by 6.1% in the fourth quarter. Drive Wealth Management LLC now owns 12,354 shares of the technology company’s stock worth $227,000 after purchasing an additional 707 shares in the last quarter. 10.89% of the stock is currently owned by institutional investors.

Infosys Stock Performance

NYSE INFY traded up $0.14 during trading hours on Thursday, reaching $19.37. The stock had a trading volume of 7,252,432 shares, compared to its average volume of 8,769,706. The stock has a fifty day moving average of $17.50 and a 200 day moving average of $18.44. The stock has a market cap of $80.19 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 3.54 and a beta of 0.98. Infosys Limited has a 52-week low of $15.33 and a 52-week high of $20.74.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.49 billion. Infosys had a return on equity of 32.33% and a net margin of 17.06%. During the same period in the previous year, the company posted $0.18 earnings per share. On average, equities research analysts forecast that Infosys Limited will post 0.75 EPS for the current year.

Infosys Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 31st were paid a dividend of $0.2035 per share. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, May 31st. Infosys’s payout ratio is 36.84%.

Analyst Ratings Changes

INFY has been the topic of a number of research analyst reports. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Wedbush restated an “outperform” rating and set a $22.00 price target on shares of Infosys in a research note on Wednesday, March 13th. HSBC restated a “hold” rating and set a $20.10 price target on shares of Infosys in a research note on Friday, April 19th. BMO Capital Markets dropped their price target on Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a research note on Friday, April 19th. Finally, Guggenheim assumed coverage on Infosys in a research note on Tuesday, March 19th. They set a “neutral” rating and a $20.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Infosys currently has a consensus rating of “Hold” and an average target price of $19.27.

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.