Infosys Limited (NYSE:INFY) Stake Reduced by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. reduced its stake in shares of Infosys Limited (NYSE:INFY) by 31.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,350 shares of the technology company’s stock after selling 4,318 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Infosys were worth $208,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in INFY. Robeco Institutional Asset Management B.V. grew its stake in Infosys by 68.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock worth $542,051,000 after buying an additional 9,923,744 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Infosys by 37.3% in the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock worth $401,826,000 after purchasing an additional 5,862,144 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Infosys by 6,071.1% in the third quarter. Victory Capital Management Inc. now owns 4,739,830 shares of the technology company’s stock worth $105,556,000 after purchasing an additional 4,663,023 shares in the last quarter. Millennium Management LLC grew its stake in shares of Infosys by 67.9% in the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock worth $141,532,000 after purchasing an additional 3,074,432 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Infosys by 46.0% in the second quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company’s stock worth $97,467,000 after purchasing an additional 1,648,650 shares in the last quarter. 10.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

INFY has been the subject of several recent analyst reports. Investec cut Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, BMO Capital Markets raised their target price on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. 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, Infosys currently has an average rating of “Hold” and an average target price of $20.85.

Infosys Stock Down 1.9 %

Shares of NYSE INFY opened at $22.74 on Thursday. Infosys Limited has a 12 month low of $16.04 and a 12 month high of $23.48. The company has a market cap of $94.19 billion, a price-to-earnings ratio of 29.15, a P/E/G ratio of 3.69 and a beta of 1.00. The business has a fifty day simple moving average of $22.24 and a 200-day simple moving average of $20.89.

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 during the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the prior year, the business posted $0.18 earnings per share. As a group, sell-side analysts expect that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were issued a dividend of $0.2126 per share. This represents a dividend yield of 1.1%. This is an increase from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date was Tuesday, October 29th. Infosys’s dividend payout ratio is currently 53.85%.

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.