Van ECK Associates Corp Reduces Position in Infosys Limited (NYSE:INFY)

Van ECK Associates Corp reduced its stake in Infosys Limited (NYSE:INFY) by 10.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 418,301 shares of the technology company’s stock after selling 49,070 shares during the quarter. Van ECK Associates Corp’s holdings in Infosys were worth $9,290,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. GAMMA Investing LLC raised its holdings 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 acquiring an additional 541 shares during the last quarter. Hilltop National Bank grew its position in shares of Infosys by 50.8% in the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after purchasing an additional 1,004 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in Infosys by 126.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock valued at $56,000 after purchasing an additional 1,693 shares during the last quarter. Ridgewood Investments LLC purchased a new position in Infosys during the second quarter worth about $162,000. Finally, Foster Group Inc. acquired a new stake in Infosys in the 3rd quarter worth about $214,000. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Price Performance

NYSE:INFY opened at $21.38 on Thursday. The business’s 50-day moving average is $22.50 and its two-hundred day moving average is $20.35. The firm has a market capitalization of $88.55 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 3.34 and a beta of 1.00. Infosys Limited has a 12 month low of $16.04 and a 12 month high of $23.48.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period last year, the business posted $0.18 EPS. Equities analysts anticipate that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

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

Wall Street Analysts Forecast Growth

INFY has been the subject of a number of research analyst reports. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. BMO Capital Markets upped their price objective on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.85.

Infosys 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.