Deltec Asset Management LLC Sells 4,000 Shares of Infosys Limited (NYSE:INFY)

Deltec Asset Management LLC decreased its stake in shares of Infosys Limited (NYSE:INFY) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,500 shares of the technology company’s stock after selling 4,000 shares during the quarter. Deltec Asset Management LLC’s holdings in Infosys were worth $2,635,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in INFY. Acadian Asset Management LLC increased its position in Infosys by 106.1% during the 1st quarter. Acadian Asset Management LLC now owns 4,839,764 shares of the technology company’s stock valued at $86,764,000 after purchasing an additional 2,491,403 shares during the period. Wellington Management Group LLP raised its stake in Infosys by 539.8% in the fourth quarter. Wellington Management Group LLP now owns 2,010,636 shares of the technology company’s stock worth $36,955,000 after buying an additional 1,696,378 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Infosys by 76.1% during the first quarter. Daiwa Securities Group Inc. now owns 3,585,850 shares of the technology company’s stock worth $64,294,000 after buying an additional 1,549,650 shares during the period. BNP Paribas Financial Markets boosted its position in Infosys by 49.3% during the 1st quarter. BNP Paribas Financial Markets now owns 3,741,065 shares of the technology company’s stock valued at $67,077,000 after acquiring an additional 1,235,140 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Infosys by 20.7% in the 4th quarter. Franklin Resources Inc. now owns 6,719,669 shares of the technology company’s stock worth $123,508,000 after acquiring an additional 1,150,885 shares in the last quarter. 10.89% of the stock is owned by hedge funds and other institutional investors.

Infosys Price Performance

NYSE:INFY traded up $0.16 during midday trading on Wednesday, hitting $21.75. The company’s stock had a trading volume of 5,349,218 shares, compared to its average volume of 9,860,115. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $22.94. The firm has a market cap of $90.04 billion, a P/E ratio of 28.62, a P/E/G ratio of 3.53 and a beta of 0.98. The firm’s 50 day moving average is $19.88 and its 200-day moving average is $18.88.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.67 billion. Infosys had a return on equity of 32.01% and a net margin of 17.18%. During the same period last year, the firm earned $0.17 EPS. As a group, analysts forecast that Infosys Limited will post 0.75 EPS for the current 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 given a dividend of $0.2035 per share. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, May 31st. Infosys’s dividend payout ratio (DPR) is presently 36.84%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. HSBC reiterated a “hold” rating and set a $20.10 price objective on shares of Infosys in a research note on Friday, April 19th. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. BMO Capital Markets reduced their target price on Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, April 19th. Susquehanna lowered their price target on Infosys from $15.00 to $14.00 and set a “negative” rating for the company in a report on Friday, April 19th. Finally, Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average 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.