Infosys Limited (NYSE:INFY) Shares Sold by KBC Group NV

KBC Group NV trimmed its holdings in Infosys Limited (NYSE:INFY) by 25.5% during the third quarter, HoldingsChannel.com reports. The firm owned 131,862 shares of the technology company’s stock after selling 45,030 shares during the period. KBC Group NV’s holdings in Infosys were worth $2,937,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV raised its holdings in Infosys by 2.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock valued at $328,000 after acquiring an additional 505 shares in the last quarter. Outlook Wealth Advisors LLC raised its stake in shares of Infosys by 3.0% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company’s stock valued at $399,000 after purchasing an additional 526 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Infosys by 22.6% during the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after purchasing an additional 541 shares during the last quarter. D Orazio & Associates Inc. grew its stake in Infosys by 4.1% in the second quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock worth $274,000 after purchasing an additional 584 shares in the last quarter. Finally, Somerset Trust Co increased its holdings in Infosys by 4.2% in the second quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock valued at $282,000 after buying an additional 611 shares during the last quarter. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INFY has been the subject of several research reports. BMO Capital Markets lifted their target price on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Two 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.85.

Infosys Stock Down 1.3 %

Infosys stock opened at $21.53 on Monday. The firm has a 50-day moving average price of $22.33 and a two-hundred day moving average price of $20.61. Infosys Limited has a 52-week low of $16.04 and a 52-week high of $23.48. The firm has a market capitalization of $89.17 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 3.48 and a beta of 1.00.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. Infosys had a return on equity of 31.43% and a net margin of 17.15%. During the same period in the prior year, the company posted $0.18 EPS. Research analysts expect that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were issued a $0.2126 dividend. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a yield of 1.1%. This is an increase from Infosys’s previous semi-annual dividend of $0.20. Infosys’s dividend payout ratio is presently 53.85%.

Infosys 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.