Baillie Gifford & Co. Sells 348,398 Shares of Infosys Limited (NYSE:INFY)

Baillie Gifford & Co. reduced its position in Infosys Limited (NYSE:INFY) by 10.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,842,115 shares of the technology company’s stock after selling 348,398 shares during the period. Baillie Gifford & Co. owned 0.07% of Infosys worth $50,959,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in INFY. Aikya Investment Management Ltd acquired a new stake in Infosys during the 4th quarter worth $71,409,000. Wellington Management Group LLP grew its position in shares of Infosys by 539.8% in the 4th quarter. Wellington Management Group LLP now owns 2,010,636 shares of the technology company’s stock valued at $36,955,000 after purchasing an additional 1,696,378 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Infosys by 20.7% in the fourth quarter. Franklin Resources Inc. now owns 6,719,669 shares of the technology company’s stock valued at $123,508,000 after buying an additional 1,150,885 shares during the period. FIL Ltd increased its holdings in Infosys by 5.9% during the 4th quarter. FIL Ltd now owns 18,459,935 shares of the technology company’s stock worth $339,294,000 after purchasing an additional 1,031,371 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Infosys by 33.9% during the third quarter. American Century Companies Inc. now owns 3,687,017 shares of the technology company’s stock worth $63,085,000 after purchasing an additional 932,570 shares during the last quarter. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Price Performance

Shares of INFY traded up $0.06 during mid-day trading on Friday, hitting $19.43. The stock had a trading volume of 7,709,818 shares, compared to its average volume of 8,387,369. The firm has a market cap of $80.44 billion, a P/E ratio of 25.57, a PEG ratio of 3.57 and a beta of 0.98. The business has a fifty day moving average price of $17.59 and a 200-day moving average price of $18.45. Infosys Limited has a 52 week low of $15.33 and a 52 week high of $20.74.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, April 18th. The technology company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.49 billion. Infosys had a return on equity of 32.33% and a net margin of 17.06%. During the same quarter in the previous year, the firm earned $0.18 earnings per share. As a group, research analysts expect that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 31st were paid a $0.2035 dividend. This represents a yield of 1.4%. The ex-dividend date of this dividend was Friday, May 31st. Infosys’s payout ratio is currently 38.16%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on INFY shares. Wedbush reaffirmed an “outperform” rating and set a $22.00 price target on shares of Infosys in a research report on Wednesday, March 13th. StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Susquehanna dropped their target price on Infosys from $15.00 to $14.00 and set a “negative” rating for the company in a report on Friday, April 19th. HSBC reiterated a “hold” rating and issued a $20.10 price objective on shares of Infosys in a research note on Friday, April 19th. Finally, Guggenheim initiated coverage on Infosys in a research report on Tuesday, March 19th. They set a “neutral” rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.27.

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.