GAM Holding AG Lowers Stock Holdings in Infosys Limited (NYSE:INFY)

GAM Holding AG lowered its holdings in shares of Infosys Limited (NYSE:INFY) by 7.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 476,773 shares of the technology company’s stock after selling 40,735 shares during the quarter. GAM Holding AG’s holdings in Infosys were worth $10,618,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of INFY. GAMMA Investing LLC increased its holdings in shares of Infosys by 33.0% in the first quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock valued at $43,000 after purchasing an additional 593 shares during the last quarter. Hilltop National Bank increased its holdings 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 last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings 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 last quarter. Ridgewood Investments LLC acquired a new stake in shares of Infosys in the second quarter valued at approximately $162,000. Finally, Bank Pictet & Cie Europe AG acquired a new stake in shares of Infosys in the second quarter valued at approximately $194,000. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Infosys Trading Down 0.2 %

Shares of NYSE INFY opened at $22.16 on Wednesday. Infosys Limited has a twelve month low of $16.04 and a twelve month high of $23.48. The stock has a 50 day moving average of $22.70 and a two-hundred day moving average of $20.06. The stock has a market cap of $91.74 billion, a P/E ratio of 29.16, a P/E/G ratio of 3.68 and a beta of 0.99.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. Infosys had a return on equity of 32.01% and a net margin of 17.18%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the business earned $0.18 earnings per share. As a group, research analysts predict that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st will be paid a $0.2126 dividend. The ex-dividend date is Tuesday, October 29th. This represents a yield of 1.1%. This is a boost from Infosys’s previous semi-annual dividend of $0.20. Infosys’s payout ratio is currently 36.84%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on INFY shares. Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. BMO Capital Markets raised their price target on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Investec lowered Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a report on Monday. Finally, Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently 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.