Thornburg Investment Management Inc. Trims Stake in Infosys Limited (NYSE:INFY)

Thornburg Investment Management Inc. lessened its holdings in shares of Infosys Limited (NYSE:INFY) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,469 shares of the technology company’s stock after selling 2,238 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Infosys were worth $1,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of INFY. Vanguard Group Inc. lifted its position in Infosys by 2.3% during the third quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock valued at $139,327,000 after purchasing an additional 180,888 shares in the last quarter. Mutual Advisors LLC purchased a new position in shares of Infosys during the 4th quarter valued at about $229,000. HB Wealth Management LLC grew its stake in shares of Infosys by 5.7% during the 4th quarter. HB Wealth Management LLC now owns 10,661 shares of the technology company’s stock valued at $196,000 after acquiring an additional 575 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Infosys by 18.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 33,638 shares of the technology company’s stock worth $618,000 after acquiring an additional 5,159 shares in the last quarter. Finally, Artemis Investment Management LLP raised its stake in Infosys by 4.5% during the 4th quarter. Artemis Investment Management LLP now owns 69,693 shares of the technology company’s stock worth $1,281,000 after acquiring an additional 3,000 shares during the period. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Infosys Stock Down 1.0 %

NYSE INFY traded down $0.22 during trading on Wednesday, hitting $21.86. 7,859,056 shares of the stock traded hands, compared to its average volume of 9,792,096. The company has a market capitalization of $90.48 billion, a P/E ratio of 28.76, a price-to-earnings-growth ratio of 3.46 and a beta of 0.98. Infosys Limited has a 12-month low of $16.04 and a 12-month high of $22.61. The firm has a 50-day simple moving average of $18.49 and a 200-day simple moving average of $18.64.

Infosys (NYSE:INFY) last posted its earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.67 billion. Infosys had a net margin of 17.18% and a return on equity of 32.01%. During the same period last year, the firm posted $0.17 earnings per share. As a group, research analysts predict that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 31st were issued a $0.2035 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a dividend yield of 1.4%. Infosys’s dividend payout ratio (DPR) is presently 38.16%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on INFY shares. Susquehanna dropped their price target on shares of Infosys from $15.00 to $14.00 and set a “negative” rating for the company in a research report on Friday, April 19th. BMO Capital Markets cut their price target on Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a research note on Friday, April 19th. Bank of America upgraded Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. StockNews.com upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. Finally, Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $19.27.

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.