Harvest Portfolios Group Inc. Trims Stock Holdings in Infosys Limited (NYSE:INFY)

Harvest Portfolios Group Inc. cut its holdings in shares of Infosys Limited (NYSE:INFY) by 24.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,377 shares of the technology company’s stock after selling 7,604 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Infosys were worth $521,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in INFY. World Equity Group Inc. acquired a new stake in Infosys in the third quarter valued at $283,000. QRG Capital Management Inc. lifted its position in shares of Infosys by 32.5% during the third quarter. QRG Capital Management Inc. now owns 52,946 shares of the technology company’s stock worth $1,179,000 after purchasing an additional 12,991 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Infosys by 68.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock worth $542,051,000 after purchasing an additional 9,923,744 shares in the last quarter. BSW Wealth Partners raised its stake in Infosys by 12.9% during the third quarter. BSW Wealth Partners now owns 20,199 shares of the technology company’s stock valued at $450,000 after buying an additional 2,313 shares in the last quarter. Finally, Americana Partners LLC lifted its holdings in Infosys by 6.0% during the 3rd quarter. Americana Partners LLC now owns 13,723 shares of the technology company’s stock worth $306,000 after buying an additional 776 shares during the last quarter. 10.89% of the stock is owned by institutional investors and hedge funds.

Infosys Trading Up 3.2 %

Shares of NYSE INFY opened at $21.38 on Thursday. Infosys Limited has a twelve month low of $16.04 and a twelve month high of $23.48. The firm has a 50-day moving average of $22.50 and a two-hundred day moving average of $20.35. The company has a market capitalization of $88.55 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 3.34 and a beta of 1.00.

Infosys (NYSE:INFY) last released its earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting the consensus estimate 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 net margin of 17.15% and a return on equity of 31.43%. During the same period in the prior year, the business earned $0.18 earnings per share. As a group, research analysts predict that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were given a dividend of $0.2126 per share. The ex-dividend date of this dividend was 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 payout ratio is 55.13%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. BMO Capital Markets raised their target price on shares of Infosys from $23.00 to $25.00 and gave the stock 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 report on Wednesday, September 11th. Finally, Investec cut Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.