Foster & Motley Inc. Has $3.48 Million Stock Position in Infosys Limited (NYSE:INFY)

Foster & Motley Inc. cut its stake in shares of Infosys Limited (NYSE:INFY) by 6.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 156,460 shares of the technology company’s stock after selling 9,931 shares during the quarter. Foster & Motley Inc.’s holdings in Infosys were worth $3,484,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in INFY. GAMMA Investing LLC raised its position 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 boosted its holdings in shares of 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. Whittier Trust Co. of Nevada Inc. grew its position 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. Ridgewood Investments LLC bought a new stake in Infosys during the 2nd quarter valued at about $162,000. Finally, Foster Group Inc. purchased a new stake in Infosys during the 3rd quarter valued at $214,000. 10.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on INFY. BMO Capital Markets increased their price target on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Investec cut shares of Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. Finally, StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $20.85.

Infosys Trading Up 3.2 %

NYSE INFY opened at $21.38 on Thursday. The stock’s 50 day moving average is $22.50 and its 200 day moving average is $20.35. Infosys Limited has a 12 month low of $16.04 and a 12 month high of $23.48. The stock has a market cap of $88.55 billion, a PE ratio of 27.41, a P/E/G ratio of 3.34 and a beta of 1.00.

Infosys (NYSE:INFY) last announced 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 return on equity of 31.43% and a net margin of 17.15%. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period in the prior year, the company earned $0.18 earnings per share. On average, analysts forecast that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were paid a $0.2126 dividend. The ex-dividend date was Tuesday, October 29th. This represents a dividend yield of 1.1%. This is an increase from Infosys’s previous semi-annual dividend of $0.20. Infosys’s dividend payout ratio is currently 55.13%.

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.