Davis Capital Management Trims Stock Position in Infosys Limited (NYSE:INFY)

Davis Capital Management lowered its stake in shares of Infosys Limited (NYSE:INFY) by 3.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 37,928 shares of the technology company’s stock after selling 1,396 shares during the period. Davis Capital Management’s holdings in Infosys were worth $712,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of INFY. GAMMA Investing LLC acquired a new stake in shares of Infosys during the 4th quarter valued at about $36,000. Jones Financial Companies Lllp acquired a new stake in Infosys in the 4th quarter worth about $56,000. EverSource Wealth Advisors LLC boosted its holdings in Infosys by 113.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,130 shares of the technology company’s stock worth $58,000 after buying an additional 1,663 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in Infosys in the 4th quarter worth about $123,000. Finally, Confluence Investment Management LLC acquired a new stake in Infosys in the 1st quarter worth about $189,000. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Infosys Stock Down 2.4 %

NYSE INFY traded down $0.53 on Friday, reaching $21.77. The stock had a trading volume of 10,940,913 shares, compared to its average volume of 13,156,829. The firm has a market capitalization of $90.17 billion, a price-to-earnings ratio of 28.64, a P/E/G ratio of 3.53 and a beta of 0.98. Infosys Limited has a 12-month low of $16.04 and a 12-month high of $22.94. The stock has a fifty day moving average price of $19.29 and a two-hundred day moving average price of $18.82.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. The company had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.67 billion. Infosys had a return on equity of 32.01% and a net margin of 17.18%. During the same quarter in the previous year, the company earned $0.17 earnings per share. Sell-side analysts forecast that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 31st were paid a $0.2035 dividend. The ex-dividend date was Friday, May 31st. This represents a dividend yield of 1.4%. Infosys’s dividend payout ratio (DPR) is 38.16%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. BMO Capital Markets lowered their price objective on Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a report on Friday, April 19th. Susquehanna decreased their target price on shares of Infosys from $15.00 to $14.00 and set a “negative” rating on the stock in a research note on Friday, April 19th. HSBC reissued a “hold” rating and issued a $20.10 target price on shares of Infosys in a research note on Friday, April 19th. Finally, StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.