Sequoia Financial Advisors LLC Lowers Holdings in Infosys Limited (NYSE:INFY)

Posted by Defense World Staff on Jul 12th, 2023

Sequoia Financial Advisors LLC trimmed its stake in Infosys Limited (NYSE:INFY – Free Report) by 6.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,736 shares of the technology company’s stock after selling 2,989 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Infosys were worth $745,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. UBS Group AG boosted its stake in Infosys by 4.8% in the 4th quarter. UBS Group AG now owns 5,002,596 shares of the technology company’s stock worth $90,097,000 after purchasing an additional 228,170 shares in the last quarter. Aviva PLC lifted its stake in shares of Infosys by 1.0% in the fourth quarter. Aviva PLC now owns 682,367 shares of the technology company’s stock worth $2,755,000 after buying an additional 6,909 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of Infosys by 10.1% during the fourth quarter. Ballentine Partners LLC now owns 15,968 shares of the technology company’s stock valued at $288,000 after buying an additional 1,469 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Infosys by 18.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,130,565 shares of the technology company’s stock valued at $128,421,000 after acquiring an additional 1,111,022 shares in the last quarter. Finally, HBK Sorce Advisory LLC raised its holdings in Infosys by 79.0% in the 4th quarter. HBK Sorce Advisory LLC now owns 31,512 shares of the technology company’s stock worth $568,000 after acquiring an additional 13,910 shares during the last quarter. 12.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INFY has been the topic of a number of research analyst reports. Citigroup downgraded Infosys from a “buy” rating to a “neutral” rating in a report on Thursday, April 13th. Nomura cut shares of Infosys from a “buy” rating to a “neutral” rating in a research note on Thursday, April 13th. BMO Capital Markets decreased their price objective on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, April 14th. Macquarie cut shares of Infosys from an “outperform” rating to a “neutral” rating in a report on Sunday, April 16th. Finally, JPMorgan Chase & Co. began coverage on shares of Infosys in a research note on Tuesday, May 23rd. They set an “underweight” rating and a $14.00 target price for the company. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.57.

Infosys Stock Performance

NYSE:INFY opened at $16.25 on Wednesday. The stock has a 50-day simple moving average of $15.62 and a two-hundred day simple moving average of $16.94. The firm has a market capitalization of $67.20 billion, a PE ratio of 22.88, a P/E/G ratio of 2.13 and a beta of 0.98. Infosys Limited has a 52-week low of $14.71 and a 52-week high of $20.60.

Infosys (NYSE:INFY – Get Free Report) last released its earnings results on Thursday, April 13th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). Infosys had a return on equity of 31.78% and a net margin of 16.37%. The firm had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.73 billion. During the same period in the prior year, the company posted $0.18 earnings per share. Equities analysts forecast that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, July 3rd. Shareholders of record on Friday, June 2nd were issued a dividend of $0.2134 per share. This is a positive change from Infosys’s previous semi-annual dividend of $0.17. This represents a yield of 1.5%. The ex-dividend date was Thursday, June 1st. Infosys’s dividend payout ratio (DPR) is 50.70%.

Infosys Profile

(Free Report)

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.