Deltec Asset Management LLC Sells 4,000 Shares of Infosys Limited (NYSE:INFY)

Deltec Asset Management LLC cut its stake in shares of Infosys Limited (NYSE:INFY) by 2.7% in the second quarter, Holdings Channel reports. The firm owned 141,500 shares of the technology company’s stock after selling 4,000 shares during the quarter. Deltec Asset Management LLC’s holdings in Infosys were worth $2,635,000 at the end of the most recent quarter.

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

Infosys Trading Up 0.7 %

Infosys stock traded up $0.16 during trading on Wednesday, hitting $21.75. 5,349,218 shares of the company were exchanged, compared to its average volume of 9,860,115. The company has a market capitalization of $90.04 billion, a P/E ratio of 28.62, a PEG ratio of 3.53 and a beta of 0.98. The business’s 50 day moving average is $19.88 and its 200 day moving average is $18.88. Infosys Limited has a 52 week low of $16.04 and a 52 week high of $22.94.

Infosys (NYSE:INFY) last posted its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Infosys had a net margin of 17.18% and a return on equity of 32.01%. The business had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the previous year, the firm 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 business also recently announced a semi-annual dividend, which was paid on Friday, May 31st. Stockholders 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 is currently 36.84%.

Wall Street Analyst Weigh In

INFY has been the subject of a number of research analyst reports. Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. HSBC reissued a “hold” rating and issued a $20.10 price target on shares of Infosys in a research note on Friday, April 19th. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. BMO Capital Markets lowered their target price on Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, April 19th. Finally, Susquehanna cut 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently 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.