SRN Advisors LLC Sells 23,959 Shares of Infosys Limited (NYSE:INFY)

SRN Advisors LLC lowered its holdings in shares of Infosys Limited (NYSE:INFY) by 49.0% in the third quarter, HoldingsChannel reports. The firm owned 24,921 shares of the technology company’s stock after selling 23,959 shares during the period. SRN Advisors LLC’s holdings in Infosys were worth $555,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of INFY. Hilltop National Bank boosted its position in Infosys by 50.8% during the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after purchasing an additional 1,004 shares during the period. GAMMA Investing LLC lifted its stake in shares of Infosys by 22.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after buying an additional 541 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted 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 buying an additional 1,693 shares during the period. Ridgewood Investments LLC acquired a new position in Infosys in the 2nd quarter valued at about $162,000. Finally, Bank Pictet & Cie Europe AG bought a new position in Infosys in the 2nd quarter valued at about $194,000. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Price Performance

Shares of NYSE INFY opened at $21.89 on Friday. The company has a 50-day moving average price of $22.71 and a 200-day moving average price of $20.13. The stock has a market capitalization of $90.66 billion, a P/E ratio of 28.06, a P/E/G ratio of 3.57 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 announced its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a return on equity of 31.43% and a net margin of 17.15%. During the same quarter in the prior year, the company posted $0.18 earnings per share. As a group, equities research analysts anticipate that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st will be given a dividend of $0.2126 per share. The ex-dividend date is Tuesday, October 29th. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. This represents a dividend yield of 1.1%. Infosys’s dividend payout ratio (DPR) is currently 37.18%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on INFY shares. Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Investec downgraded Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. 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 lifted their price objective on shares of Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.