Infosys Limited (NYSE:INFY) Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. reduced its position in shares of Infosys Limited (NYSE:INFY) by 3.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 57,469 shares of the technology company’s stock after selling 2,238 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Infosys were worth $1,028,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of INFY. Acadian Asset Management LLC increased its holdings in shares of Infosys by 106.1% during the 1st quarter. Acadian Asset Management LLC now owns 4,839,764 shares of the technology company’s stock worth $86,764,000 after buying an additional 2,491,403 shares during the last quarter. Wellington Management Group LLP increased its stake in Infosys by 539.8% during the fourth quarter. Wellington Management Group LLP now owns 2,010,636 shares of the technology company’s stock worth $36,955,000 after acquiring an additional 1,696,378 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Infosys by 76.1% in the first quarter. Daiwa Securities Group Inc. now owns 3,585,850 shares of the technology company’s stock valued at $64,294,000 after purchasing an additional 1,549,650 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Infosys by 49.3% in the 1st quarter. BNP Paribas Financial Markets now owns 3,741,065 shares of the technology company’s stock valued at $67,077,000 after purchasing an additional 1,235,140 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Infosys by 20.7% during the 4th quarter. Franklin Resources Inc. now owns 6,719,669 shares of the technology company’s stock worth $123,508,000 after purchasing an additional 1,150,885 shares during the period. 10.89% of the stock is owned by hedge funds and other institutional investors.

Infosys Trading Down 1.0 %

INFY traded down $0.22 on Wednesday, hitting $21.86. 7,859,056 shares of the company were exchanged, compared to its average volume of 9,792,096. The firm has a 50-day moving average price of $18.49 and a two-hundred day moving average price of $18.64. Infosys Limited has a twelve month low of $16.04 and a twelve month high of $22.61. The company has a market cap of $90.48 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 3.46 and a beta of 0.98.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.67 billion. Infosys had a return on equity of 32.01% and a net margin of 17.18%. During the same period in the previous year, the company posted $0.17 earnings per share. Equities analysts expect that Infosys Limited will post 0.75 EPS for the current year.

Infosys Cuts Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on INFY shares. Susquehanna reduced their price objective on shares of Infosys from $15.00 to $14.00 and set a “negative” rating on the stock in a report on Friday, April 19th. StockNews.com upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. HSBC reaffirmed a “hold” rating and issued a $20.10 price objective on shares of Infosys in a research note on Friday, April 19th. BMO Capital Markets decreased their target price on Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a research note on Friday, April 19th. Finally, Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Infosys currently has an average rating of “Hold” and an average price target of $19.27.

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.