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

Goldman Sachs Group Inc. reduced its holdings in Infosys Limited (NYSE:INFYFree Report) by 21.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Jones Financial Companies Lllp acquired a new position in Infosys during the fourth quarter worth $56,000. Martin Currie Ltd. boosted its position in shares of Infosys by 81.5% during the 4th quarter. Martin Currie Ltd. now owns 765,393 shares of the technology company’s stock valued at $14,068,000 after acquiring an additional 343,763 shares during the last quarter. Alberta Investment Management Corp boosted its position in shares of 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 last quarter. Comgest Global Investors S.A.S. grew its holdings in shares of Infosys by 15.6% in the fourth 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 purchasing an additional 232,889 shares during the period. Finally, Allianz Asset Management GmbH increased its position in Infosys by 0.5% during the fourth quarter. Allianz Asset Management GmbH now owns 283,744 shares of the technology company’s stock worth $5,215,000 after purchasing an additional 1,497 shares during the last quarter. 10.89% of the stock is currently owned by institutional investors and hedge funds.

Infosys Stock Performance

Shares of INFY opened at $17.84 on Tuesday. The company’s 50-day simple moving average is $17.22 and its 200-day simple moving average is $18.38. Infosys Limited has a 1 year low of $15.11 and a 1 year high of $20.74. The stock has a market capitalization of $73.86 billion, a PE ratio of 23.47, a P/E/G ratio of 3.32 and a beta of 0.96.

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

Infosys Cuts Dividend

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Susquehanna dropped their price target on shares of Infosys from $15.00 to $14.00 and set a “negative” rating for the company in a research note on Friday, April 19th. Wedbush reissued an “outperform” rating and set a $22.00 target price on shares of Infosys in a research note on Wednesday, March 13th. BMO Capital Markets decreased their price target on Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a research note on Friday, April 19th. Bank of America raised Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. Finally, StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to MarketBeat, Infosys has an average rating of “Hold” and an average price target of $19.27.

Read Our Latest Stock Analysis on INFY

About Infosys

(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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