Wealth Alliance Lowers Holdings in Infosys Limited (NYSE:INFY)

Wealth Alliance decreased its position in Infosys Limited (NYSE:INFY) by 2.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,093 shares of the technology company’s stock after selling 722 shares during the period. Wealth Alliance’s holdings in Infosys were worth $616,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Baader Bank Aktiengesellschaft purchased a new stake in shares of Infosys in the second quarter valued at approximately $529,000. Dimensional Fund Advisors LP raised its stake in Infosys by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,360,152 shares of the technology company’s stock worth $98,547,000 after buying an additional 209,675 shares in the last quarter. BNP Paribas bought a new position in Infosys in the first quarter worth approximately $1,169,000. Alberta Investment Management Corp raised its stake in Infosys by 118.6% in the fourth quarter. Alberta Investment Management Corp now owns 1,328,956 shares of the technology company’s stock worth $24,426,000 after buying an additional 720,885 shares in the last quarter. Finally, FIL Ltd raised its stake in Infosys by 5.9% in the fourth quarter. FIL Ltd now owns 18,459,935 shares of the technology company’s stock worth $339,294,000 after buying an additional 1,031,371 shares in the last quarter. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Infosys presently has a consensus rating of “Moderate Buy” and an average target price of $19.27.

Infosys Price Performance

Shares of INFY opened at $22.48 on Thursday. The firm has a market capitalization of $93.07 billion, a PE ratio of 29.58, a price-to-earnings-growth ratio of 3.63 and a beta of 0.99. Infosys Limited has a 1-year low of $16.04 and a 1-year high of $23.48. The company’s fifty day moving average price is $22.12 and its 200-day moving average price is $19.36.

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

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.