Northwest & Ethical Investments L.P. Sells 29,670 Shares of Infosys Limited (NYSE:INFY)

Northwest & Ethical Investments L.P. lowered its holdings in Infosys Limited (NYSE:INFY) by 29.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 70,120 shares of the technology company’s stock after selling 29,670 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Infosys were worth $1,562,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Mizuho Securities Co. Ltd. purchased a new stake in shares of Infosys in the third quarter valued at about $33,000. GAMMA Investing LLC increased its stake in Infosys by 22.6% in the 2nd 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. Hilltop National Bank lifted its position in shares of Infosys by 50.8% during the 2nd 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. boosted its stake in shares of Infosys by 126.7% in 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 last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of Infosys in the second quarter valued at approximately $162,000. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Stock Performance

NYSE:INFY opened at $22.07 on Friday. 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 $22.23 and its 200 day moving average is $20.94. The firm has a market cap of $91.41 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 3.67 and a beta of 1.00.

Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. Infosys had a net margin of 17.15% and a return on equity of 31.43%. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period in the previous year, the business earned $0.18 EPS. Equities analysts predict that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were issued a $0.2126 dividend. The ex-dividend date was Tuesday, October 29th. This represents a dividend yield of 1.1%. This is a boost from Infosys’s previous semi-annual dividend of $0.20. Infosys’s dividend payout ratio (DPR) is presently 53.85%.

Analyst Ratings Changes

INFY has been the topic of a number of recent analyst reports. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. 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 report on Friday, October 18th. Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Finally, Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Two 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 company presently has an average rating of “Hold” and an average price target of $20.85.

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.