Deltec Asset Management LLC Sells 84,000 Shares of Infosys Limited (NYSE:INFY)

Deltec Asset Management LLC lowered its stake in shares of Infosys Limited (NYSE:INFY) by 59.4% during the third quarter, HoldingsChannel reports. The firm owned 57,500 shares of the technology company’s stock after selling 84,000 shares during the quarter. Deltec Asset Management LLC’s holdings in Infosys were worth $1,281,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Hilltop National Bank lifted its stake in 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 acquiring an additional 1,004 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Infosys by 22.6% in the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after buying an additional 541 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of 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 worth $56,000 after acquiring an additional 1,693 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in Infosys during the 2nd quarter valued at $162,000. Finally, Bank Pictet & Cie Europe AG bought a new position in Infosys during the second quarter worth $194,000. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Stock Performance

INFY opened at $21.76 on Wednesday. Infosys Limited has a 52-week low of $16.04 and a 52-week high of $23.48. The business’s fifty day moving average is $22.70 and its 200-day moving average is $20.20. The firm has a market cap of $90.09 billion, a P/E ratio of 28.63, a price-to-earnings-growth ratio of 3.57 and a beta of 0.99.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. On average, research analysts predict that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were given a $0.2126 dividend. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a yield of 1.1%. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. Infosys’s dividend payout ratio (DPR) is currently 55.26%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on INFY. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. BMO Capital Markets boosted their price objective on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Investec cut Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.85.

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 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.