Waverton Investment Management Ltd Reduces Holdings in Infosys Limited (NYSE:INFY)

Waverton Investment Management Ltd lowered its stake in shares of Infosys Limited (NYSE:INFY) by 14.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 252,773 shares of the technology company’s stock after selling 42,610 shares during the quarter. Waverton Investment Management Ltd’s holdings in Infosys were worth $5,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Hilltop National Bank grew its position in shares of Infosys by 50.8% in the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after buying an additional 1,004 shares during the period. GAMMA Investing LLC increased its position in Infosys by 22.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after buying an additional 541 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Infosys by 126.7% during 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 buying an additional 1,693 shares during the last quarter. Ridgewood Investments LLC bought a new stake in Infosys in the second quarter worth $162,000. Finally, Bank Pictet & Cie Europe AG purchased a new stake in shares of Infosys in the second quarter worth $194,000. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

Infosys Price Performance

Shares of Infosys stock opened at $22.03 on Tuesday. The stock has a market capitalization of $91.24 billion, a PE ratio of 28.24, a P/E/G ratio of 3.51 and a beta of 1.00. Infosys Limited has a 1-year low of $16.04 and a 1-year high of $23.48. The company’s fifty day simple moving average is $22.44 and its 200-day simple moving average is $20.44.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the business posted $0.18 earnings per share. As a group, research analysts anticipate that Infosys Limited will post 0.75 EPS for the current 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 $0.2126 dividend. 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 presently 55.13%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. BMO Capital Markets increased 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. Finally, StockNews.com upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.