Royal London Asset Management Ltd. Sells 110,400 Shares of Infosys Limited (NYSE:INFY)

Royal London Asset Management Ltd. lessened its position in Infosys Limited (NYSE:INFY) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,398,953 shares of the technology company’s stock after selling 110,400 shares during the period. Royal London Asset Management Ltd.’s holdings in Infosys were worth $31,155,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. boosted its holdings in shares of 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 period. Canada Pension Plan Investment Board boosted its holdings in Infosys by 37.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock valued at $401,826,000 after purchasing an additional 5,862,144 shares during the period. Victory Capital Management Inc. boosted 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 valued at $105,556,000 after buying an additional 4,663,023 shares during the period. Millennium Management LLC grew its position in Infosys by 67.9% during the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock worth $141,532,000 after buying an additional 3,074,432 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Infosys by 46.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company’s stock worth $97,467,000 after acquiring an additional 1,648,650 shares during the period. 10.89% of the stock is currently owned by institutional investors and hedge funds.

Infosys Stock Up 1.5 %

Shares of Infosys stock opened at $22.86 on Friday. The stock has a market cap of $94.68 billion, a price-to-earnings ratio of 29.31, a P/E/G ratio of 3.57 and a beta of 1.00. Infosys Limited has a twelve month low of $16.04 and a twelve month high of $23.48. The company’s fifty day moving average is $22.20 and its 200 day moving average is $21.08.

Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. Infosys had a net margin of 17.15% and a return on equity of 31.43%. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the business earned $0.18 EPS. As a group, equities analysts anticipate that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were given a dividend of $0.2126 per share. The ex-dividend date of this dividend was 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 dividend payout ratio is 53.85%.

Analyst Upgrades and Downgrades

INFY has been the subject of a number of recent analyst reports. 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. Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Infosys has an average rating of “Hold” and an average target price of $20.85.

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.