Foster & Motley Inc. Decreases Stock Position in Infosys Limited (NYSE:INFY)

Foster & Motley Inc. lessened its holdings in Infosys Limited (NYSE:INFY) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 166,391 shares of the technology company’s stock after selling 4,357 shares during the quarter. Foster & Motley Inc.’s holdings in Infosys were worth $3,098,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. GAMMA Investing LLC increased its position in shares of Infosys by 33.0% in the 1st quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock valued at $43,000 after acquiring an additional 593 shares during the period. Hilltop National Bank increased its holdings in shares of Infosys by 50.8% in the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after purchasing an additional 1,004 shares during the period. Jones Financial Companies Lllp purchased a new position in shares of Infosys in the fourth quarter worth about $56,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Infosys by 126.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after purchasing an additional 1,693 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Infosys by 113.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,130 shares of the technology company’s stock worth $58,000 after purchasing an additional 1,663 shares during the period. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on INFY shares. Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.27.

Infosys Stock Performance

Shares of NYSE INFY opened at $22.91 on Friday. The company has a market capitalization of $94.83 billion, a PE ratio of 30.14, a price-to-earnings-growth ratio of 3.69 and a beta of 0.98. The company’s fifty day moving average price is $21.46 and its 200 day moving average price is $19.18. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.48.

Infosys (NYSE:INFY) last posted its earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. Infosys had a net margin of 17.18% and a return on equity of 32.01%. The business had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period in the prior year, the company posted $0.17 EPS. On average, equities analysts expect that Infosys Limited will post 0.75 EPS for the current year.

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.