Herndon Capital Management LLC reduced its stake in shares of Infosys Ltd (NYSE:INFY) by 52.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,034 shares of the technology company’s stock after selling 30,136 shares during the period. Herndon Capital Management LLC’s holdings in Infosys were worth $427,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of INFY. Comgest Global Investors S.A.S. boosted its stake in Infosys by 11.4% in the fourth quarter. Comgest Global Investors S.A.S. now owns 35,854,909 shares of the technology company’s stock valued at $531,728,000 after buying an additional 3,677,960 shares in the last quarter. Nordea Investment Management AB boosted its stake in Infosys by 43.9% in the first quarter. Nordea Investment Management AB now owns 32,853,555 shares of the technology company’s stock valued at $519,086,000 after buying an additional 10,022,963 shares in the last quarter. Harris Associates L P boosted its stake in Infosys by 105.6% in the first quarter. Harris Associates L P now owns 26,313,050 shares of the technology company’s stock valued at $415,746,000 after buying an additional 13,512,800 shares in the last quarter. Genesis Asset Managers LLP boosted its stake in Infosys by 11.5% in the first quarter. Genesis Asset Managers LLP now owns 13,740,028 shares of the technology company’s stock valued at $217,092,000 after buying an additional 1,414,698 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in Infosys by 1.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 13,557,757 shares of the technology company’s stock valued at $201,062,000 after buying an additional 209,067 shares in the last quarter. 17.71% of the stock is owned by institutional investors.
Shares of Infosys Ltd (NYSE:INFY) traded up 1.20% on Friday, reaching $15.16. The company had a trading volume of 3,107,671 shares. The firm has a market capitalization of $34.65 billion, a price-to-earnings ratio of 16.20 and a beta of 0.90. Infosys Ltd has a 52-week low of $13.42 and a 52-week high of $19.76. The company’s 50-day moving average price is $14.90 and its 200-day moving average price is $14.81.
Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, April 13th. The technology company reported $0.24 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.24. The business had revenue of $171.20 billion during the quarter, compared to the consensus estimate of $172.14 billion. Infosys had a return on equity of 22.56% and a net margin of 21.12%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 EPS. On average, analysts predict that Infosys Ltd will post $0.97 earnings per share for the current year.
The company also recently declared a dividend, which will be paid on Friday, June 2nd. Investors of record on Friday, June 2nd will be paid a $0.21 dividend. The ex-dividend date is Wednesday, May 31st. This is an increase from Infosys’s previous dividend of $0.17. Infosys’s payout ratio is 36.56%.
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Several equities research analysts have recently weighed in on INFY shares. Zacks Investment Research raised Infosys from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Monday, March 20th. BMO Capital Markets reissued a “hold” rating and issued a $15.00 price objective on shares of Infosys in a research report on Thursday, March 23rd. Goldman Sachs Group Inc started coverage on Infosys in a research report on Friday, March 3rd. They issued a “sell” rating for the company. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Infosys in a research report on Tuesday, April 18th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $15.50 price objective on shares of Infosys in a research report on Tuesday, April 18th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $16.47.
Infosys Limited is engaged in consulting, technology, outsourcing and next-generation services. The Company, along with its subsidiaries, provides business information technology services comprising application development and maintenance, independent validation, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking solution, and offerings in the areas of Analytics, Cloud and Digital Transformation.
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