Brown Brothers Harriman & Co. Decreases Stake in Infosys Limited (NYSE:INFY)

Brown Brothers Harriman & Co. lowered its position in shares of Infosys Limited (NYSE:INFY) by 31.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of INFY. Tidal Investments LLC purchased a new position in Infosys in the 1st quarter worth approximately $371,000. Virtu Financial LLC purchased a new position in Infosys in the 1st quarter worth approximately $244,000. Cetera Advisors LLC purchased a new position in Infosys in the 1st quarter worth approximately $210,000. Soltis Investment Advisors LLC purchased a new position in Infosys in the 1st quarter worth approximately $710,000. Finally, SRN Advisors LLC boosted its holdings in Infosys by 20.4% in the 1st quarter. SRN Advisors LLC now owns 68,312 shares of the technology company’s stock worth $1,225,000 after acquiring an additional 11,593 shares during the period. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Investec cut Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, BMO Capital Markets upped their target price on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Infosys presently has a consensus rating of “Hold” and a consensus price target of $20.85.

Infosys Trading Down 1.9 %

INFY stock opened at $22.74 on Thursday. The firm has a market cap of $94.19 billion, a P/E ratio of 29.15, a P/E/G ratio of 3.69 and a beta of 1.00. Infosys Limited has a 12-month low of $16.04 and a 12-month high of $23.48. The stock’s 50 day simple moving average is $22.24 and its 200 day simple moving average is $20.89.

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

Infosys Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were given a dividend of $0.2126 per share. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend 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.