Stack Financial Management Inc Trims Stake in Infosys Ltd (INFY)

Stack Financial Management Inc Trims Stake in Infosys Ltd (INFY)

Stack Financial Management Inc trimmed its holdings in shares of Infosys Ltd (NYSE:INFY) by 2.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 872,675 shares of the technology company’s stock after selling 25,585 shares during the period. Stack Financial Management Inc’s holdings in Infosys were worth $8,308,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in INFY. Bank of New York Mellon Corp increased its position in Infosys by 1,119,378.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 34,065,719 shares of the technology company’s stock valued at $346,449,000 after acquiring an additional 34,062,676 shares in the last quarter. Nordea Investment Management AB acquired a new stake in shares of Infosys during the 3rd quarter worth approximately $231,652,000. Fisher Asset Management LLC grew its position in shares of Infosys by 90.7% during the 3rd quarter. Fisher Asset Management LLC now owns 41,232,613 shares of the technology company’s stock worth $419,336,000 after buying an additional 19,614,497 shares during the period. BlackRock Inc. grew its position in shares of Infosys by 166.6% during the 3rd quarter. BlackRock Inc. now owns 29,932,893 shares of the technology company’s stock worth $304,416,000 after buying an additional 18,705,434 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Infosys by 140.0% during the 3rd quarter. AQR Capital Management LLC now owns 25,803,860 shares of the technology company’s stock worth $262,425,000 after buying an additional 15,050,391 shares during the period. 18.09% of the stock is owned by institutional investors.

Several equities research analysts have recently commented on INFY shares. Citigroup upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Friday, January 4th. Wells Fargo & Co set a $11.00 price target on shares of Infosys and gave the stock a “hold” rating in a research report on Friday, January 11th. Cantor Fitzgerald reiterated a “hold” rating and set a $10.00 price target on shares of Infosys in a research report on Friday, January 11th. ValuEngine upgraded shares of Infosys from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, BMO Capital Markets reiterated a “hold” rating and set a $11.00 price target on shares of Infosys in a research report on Wednesday, October 17th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. Infosys currently has a consensus rating of “Hold” and a consensus target price of $12.75.

Shares of NYSE INFY opened at $10.83 on Tuesday. The company has a market cap of $47.20 billion, a P/E ratio of 21.66, a PEG ratio of 2.11 and a beta of 0.57. Infosys Ltd has a 52-week low of $8.24 and a 52-week high of $10.94.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Friday, January 11th. The technology company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Infosys had a net margin of 18.95% and a return on equity of 24.93%. Equities analysts forecast that Infosys Ltd will post 0.52 EPS for the current year.

The company also recently disclosed a dividend, which was paid on Friday, January 25th. Investors of record on Friday, January 25th were issued a dividend of $0.047 per share. The ex-dividend date of this dividend was Thursday, January 24th. Infosys’s dividend payout ratio is currently 34.00%.

About Infosys

Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.

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