Naviter Wealth LLC Lowers Holdings in Infosys Limited (NYSE:INFY)

Naviter Wealth LLC trimmed its holdings in Infosys Limited (NYSE:INFY) by 3.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,646 shares of the technology company’s stock after selling 2,724 shares during the quarter. Naviter Wealth LLC’s holdings in Infosys were worth $1,796,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Infosys by 33.0% during the first 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 in the last quarter. Hilltop National Bank lifted its position 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 worth $55,000 after buying an additional 1,004 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Infosys by 126.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock valued at $56,000 after buying an additional 1,693 shares in the last quarter. Ridgewood Investments LLC bought a new stake in Infosys in the 2nd quarter worth approximately $162,000. Finally, Confluence Investment Management LLC purchased a new stake in shares of Infosys during the 1st quarter worth approximately $189,000. 10.89% of the stock is owned by hedge funds and other institutional investors.

Infosys Trading Down 3.5 %

Shares of NYSE:INFY traded down $0.80 on Thursday, hitting $22.10. 788,808 shares of the company were exchanged, compared to its average volume of 9,271,994. The stock’s 50 day moving average price is $22.62 and its 200 day moving average price is $19.91. The firm has a market capitalization of $91.49 billion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of 3.68 and a beta of 0.99. Infosys Limited has a 1-year low of $16.04 and a 1-year high of $23.48.

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

Analyst Upgrades and Downgrades

INFY has been the topic of several research reports. Investec cut shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. StockNews.com upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Finally, Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $19.68.

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.