MAI Capital Management Sells 21,196 Shares of Infosys Limited (NYSE:INFY)

MAI Capital Management lowered its holdings in Infosys Limited (NYSE:INFY) by 41.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 30,498 shares of the technology company’s stock after selling 21,196 shares during the quarter. MAI Capital Management’s holdings in Infosys were worth $679,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mizuho Securities Co. Ltd. bought a new stake in shares of Infosys in the third quarter valued at approximately $33,000. GAMMA Investing LLC raised its position in shares of Infosys by 22.6% in the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after purchasing an additional 541 shares during the period. Hilltop National Bank raised 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. raised its position in shares of 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 period. Finally, Ridgewood Investments LLC bought a new stake in shares of Infosys in the second quarter valued at approximately $162,000. Institutional investors own 10.89% of the company’s stock.

Infosys Stock Performance

Infosys stock opened at $22.80 on Friday. The firm’s fifty day moving average price is $22.24 and its 200-day moving average price is $20.74. The stock has a market cap of $94.43 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 3.51 and a beta of 1.00. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.48.

Infosys (NYSE:INFY) last posted its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Infosys had a net margin of 17.15% and a return on equity of 31.43%. During the same quarter last year, the company posted $0.18 EPS. On average, analysts predict that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

The business also recently disclosed 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 represents a dividend yield of 1.1%. This is a boost from Infosys’s previous semi-annual dividend of $0.20. Infosys’s dividend payout ratio (DPR) is 53.85%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on INFY. Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. BMO Capital Markets increased their target price on shares of Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus 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.