KBC Group NV Sells 16,202 Shares of Infosys Limited (NYSE:INFY)

KBC Group NV reduced its position in shares of Infosys Limited (NYSE:INFYFree Report) by 8.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 176,013 shares of the technology company’s stock after selling 16,202 shares during the quarter. KBC Group NV’s holdings in Infosys were worth $3,235,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of INFY. Martin Currie Ltd. raised its stake in shares of Infosys by 81.5% in the fourth quarter. Martin Currie Ltd. now owns 765,393 shares of the technology company’s stock worth $14,068,000 after purchasing an additional 343,763 shares during the last quarter. Alberta Investment Management Corp lifted its stake in Infosys by 118.6% during the 4th quarter. Alberta Investment Management Corp now owns 1,328,956 shares of the technology company’s stock valued at $24,426,000 after acquiring an additional 720,885 shares during the period. Comgest Global Investors S.A.S. boosted its holdings in shares of Infosys by 15.6% during the 4th quarter. Comgest Global Investors S.A.S. now owns 1,727,892 shares of the technology company’s stock valued at $31,759,000 after acquiring an additional 232,889 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Infosys by 0.5% during the 4th quarter. Allianz Asset Management GmbH now owns 283,744 shares of the technology company’s stock valued at $5,215,000 after acquiring an additional 1,497 shares during the last quarter. Finally, JARISLOWSKY FRASER Ltd grew its stake in shares of Infosys by 14.0% in the fourth quarter. JARISLOWSKY FRASER Ltd now owns 251,324 shares of the technology company’s stock worth $4,619,000 after acquiring an additional 30,915 shares during the period. 10.89% of the stock is owned by hedge funds and other institutional investors.

Infosys Stock Up 2.2 %

NYSE INFY opened at $17.54 on Friday. Infosys Limited has a 52 week low of $15.11 and a 52 week high of $20.74. The company has a market capitalization of $72.59 billion, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 3.16 and a beta of 0.96. The stock’s 50-day moving average price is $17.21 and its 200-day moving average price is $18.36.

Infosys (NYSE:INFYGet Free Report) last released its earnings results on Thursday, April 18th. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Infosys had a net margin of 17.06% and a return on equity of 32.33%. The company had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.49 billion. During the same quarter last year, the business earned $0.18 EPS. Research analysts anticipate that Infosys Limited will post 0.75 EPS for the current year.

Infosys Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 31st were issued a $0.2035 dividend. This represents a yield of 1.4%. The ex-dividend date was Friday, May 31st. Infosys’s dividend payout ratio is currently 38.16%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. BMO Capital Markets dropped their target price on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a report on Friday, April 19th. Guggenheim started coverage on Infosys in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 price target on the stock. HSBC reaffirmed a “hold” rating and issued a $20.10 price objective on shares of Infosys in a report on Friday, April 19th. Bank of America raised Infosys from a “neutral” rating to a “buy” rating in a report on Tuesday, April 9th. Finally, StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.27.

Get Our Latest Stock Report on INFY

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 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.

See Also

Institutional Ownership by Quarter for Infosys (NYSE:INFY)

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