Wambolt & Associates LLC Decreases Position in Infosys Limited (NYSE:INFY)

Wambolt & Associates LLC trimmed its holdings in shares of Infosys Limited (NYSE:INFY) by 39.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 11,399 shares of the technology company’s stock after selling 7,330 shares during the period. Wambolt & Associates LLC’s holdings in Infosys were worth $200,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in INFY. Buckingham Capital Management Inc. increased its stake in shares of Infosys by 0.6% during the fourth quarter. Buckingham Capital Management Inc. now owns 87,324 shares of the technology company’s stock valued at $1,605,000 after purchasing an additional 499 shares in the last quarter. HB Wealth Management LLC raised its stake in Infosys by 5.7% during the fourth quarter. HB Wealth Management LLC now owns 10,661 shares of the technology company’s stock valued at $196,000 after buying an additional 575 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Infosys by 33.0% in the first quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock worth $43,000 after acquiring an additional 593 shares in the last quarter. Marshall Financial Group LLC grew its stake in shares of Infosys by 1.2% in the fourth quarter. Marshall Financial Group LLC now owns 52,478 shares of the technology company’s stock worth $965,000 after acquiring an additional 622 shares during the last quarter. Finally, Drive Wealth Management LLC increased its holdings in shares of Infosys by 6.1% during the fourth quarter. Drive Wealth Management LLC now owns 12,354 shares of the technology company’s stock valued at $227,000 after acquiring an additional 707 shares in the last quarter. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

Infosys Stock Performance

Shares of NYSE INFY traded up $0.06 during midday trading on Friday, hitting $19.43. 7,709,818 shares of the stock traded hands, compared to its average volume of 8,387,369. Infosys Limited has a one year low of $15.33 and a one year high of $20.74. The firm has a market capitalization of $80.44 billion, a P/E ratio of 25.57, a PEG ratio of 3.57 and a beta of 0.98. The firm has a 50-day moving average of $17.59 and a two-hundred day moving average of $18.45.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. Infosys had a return on equity of 32.33% and a net margin of 17.06%. The business had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.49 billion. During the same period last year, the firm posted $0.18 earnings per share. Equities analysts forecast that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 31st were issued a $0.2035 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a yield of 1.4%. Infosys’s dividend payout ratio is currently 38.16%.

Analyst Ratings Changes

INFY has been the topic of a number of analyst reports. HSBC reiterated a “hold” rating and issued a $20.10 price target on shares of Infosys in a research note on Friday, April 19th. Wedbush reiterated an “outperform” rating and set a $22.00 price target on shares of Infosys in a report on Wednesday, March 13th. BMO Capital Markets reduced their price target on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a research report on Friday, April 19th. Guggenheim began coverage on Infosys in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 price objective on the stock. Finally, StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.27.

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.