Goldman Sachs Group Inc. Lowers Position in Infosys Limited (NYSE:INFY)

Goldman Sachs Group Inc. lowered its holdings in Infosys Limited (NYSE:INFYFree Report) by 21.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,520,993 shares of the technology company’s stock after selling 1,489,760 shares during the period. Goldman Sachs Group Inc. owned approximately 0.13% of Infosys worth $101,476,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Buckingham Capital Management Inc. increased its position in shares of Infosys by 0.6% during the 4th quarter. Buckingham Capital Management Inc. now owns 87,324 shares of the technology company’s stock valued at $1,605,000 after purchasing an additional 499 shares during the last quarter. HB Wealth Management LLC grew its position in Infosys by 5.7% during the 4th quarter. HB Wealth Management LLC now owns 10,661 shares of the technology company’s stock worth $196,000 after acquiring an additional 575 shares during the last quarter. Marshall Financial Group LLC grew its position in Infosys by 1.2% during the 4th quarter. Marshall Financial Group LLC now owns 52,478 shares of the technology company’s stock worth $965,000 after acquiring an additional 622 shares during the last quarter. Drive Wealth Management LLC grew its position in Infosys by 6.1% during the 4th quarter. Drive Wealth Management LLC now owns 12,354 shares of the technology company’s stock worth $227,000 after acquiring an additional 707 shares during the last quarter. Finally, Advisory Resource Group grew its position in Infosys by 2.0% during the 4th quarter. Advisory Resource Group now owns 40,535 shares of the technology company’s stock worth $745,000 after acquiring an additional 779 shares during the last quarter. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets cut their price objective 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. Guggenheim assumed coverage on Infosys in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 target price for the company. Susquehanna lowered their target price on Infosys from $15.00 to $14.00 and set a “negative” rating for the company in a research note on Friday, April 19th. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, Bank of America upgraded Infosys from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.27.

Get Our Latest Research Report on Infosys

Infosys Stock Down 0.1 %

NYSE:INFY traded down $0.02 during midday trading on Friday, hitting $17.79. The stock had a trading volume of 6,694,680 shares, compared to its average volume of 8,151,838. Infosys Limited has a one year low of $15.11 and a one year high of $20.74. The stock has a 50-day moving average of $17.23 and a 200 day moving average of $18.38. The company has a market capitalization of $73.65 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 3.28 and a beta of 0.96.

Infosys (NYSE:INFYGet Free Report) last posted its quarterly earnings data on Thursday, April 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. Infosys had a return on equity of 32.33% and a net margin of 17.06%. The company had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.49 billion. During the same period in the previous year, the firm posted $0.18 EPS. On average, sell-side analysts anticipate that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Cuts Dividend

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

Infosys Company 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.

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Institutional Ownership by Quarter for Infosys (NYSE:INFY)

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