Harvest Portfolios Group Inc. Has $521,000 Position in Infosys Limited (NYSE:INFY)

Harvest Portfolios Group Inc. lessened its holdings in Infosys Limited (NYSE:INFY) by 24.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 23,377 shares of the technology company’s stock after selling 7,604 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Infosys were worth $521,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Mercer Global Advisors Inc. ADV boosted its position in Infosys by 2.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock worth $328,000 after acquiring an additional 505 shares during the period. Outlook Wealth Advisors LLC lifted its position in shares of Infosys by 3.0% in the third quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company’s stock worth $399,000 after purchasing an additional 526 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Infosys by 22.6% during the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after purchasing an additional 541 shares during the period. D Orazio & Associates Inc. increased its stake in Infosys by 4.1% in the 2nd quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock valued at $274,000 after buying an additional 584 shares during the period. Finally, Somerset Trust Co lifted its position in Infosys by 4.2% in the 2nd quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock worth $282,000 after buying an additional 611 shares in the last quarter. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Infosys Price Performance

INFY stock opened at $21.38 on Thursday. The company has a 50-day moving average of $22.50 and a two-hundred day moving average of $20.35. The stock has a market capitalization of $88.55 billion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 3.34 and a beta of 1.00. Infosys Limited has a 52-week low of $16.04 and a 52-week high of $23.48.

Infosys (NYSE:INFY) last released its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the firm posted $0.18 EPS. Equities 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. Investors of record on Friday, January 1st were given a dividend of $0.2126 per share. The ex-dividend date was Tuesday, October 29th. This represents a yield of 1.1%. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. Infosys’s payout ratio is 55.13%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on INFY. Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. BMO Capital Markets lifted their target price on shares of Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. 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 MarketBeat, Infosys has a consensus rating of “Hold” and a consensus target price 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.