Comgest Global Investors S.A.S. Has $31.50 Million Stock Position in Infosys Limited (NYSE:INFY)

Comgest Global Investors S.A.S. reduced its position in Infosys Limited (NYSE:INFY) by 3.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,414,493 shares of the technology company’s stock after selling 57,980 shares during the period. Infosys makes up about 0.5% of Comgest Global Investors S.A.S.’s portfolio, making the stock its 29th largest position. Comgest Global Investors S.A.S.’s holdings in Infosys were worth $31,501,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Mercer Global Advisors Inc. ADV lifted its stake in Infosys by 2.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock valued at $328,000 after purchasing an additional 505 shares during the last quarter. Outlook Wealth Advisors LLC lifted its stake in Infosys by 3.0% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company’s stock valued at $399,000 after purchasing an additional 526 shares during the last quarter. GAMMA Investing LLC lifted its stake in Infosys by 22.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after purchasing an additional 541 shares during the last quarter. D Orazio & Associates Inc. lifted its stake in Infosys by 4.1% in the 2nd quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock valued at $274,000 after purchasing an additional 584 shares during the last quarter. Finally, Somerset Trust Co lifted its stake in Infosys by 4.2% in the 2nd quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock valued at $282,000 after purchasing an additional 611 shares during the last quarter. 10.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on INFY. BMO Capital Markets raised their price objective on shares of Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. StockNews.com upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Tuesday. Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Finally, Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.85.

Infosys Stock Down 1.3 %

Shares of INFY traded down $0.29 during mid-day trading on Friday, hitting $21.53. 7,650,501 shares of the company’s stock were exchanged, compared to its average volume of 9,246,825. The stock’s 50-day simple moving average is $22.33 and its 200-day simple moving average is $20.56. The firm has a market cap of $89.17 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00. Infosys Limited has a 52 week low of $16.04 and a 52 week high of $23.48.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Infosys had a net margin of 17.15% and a return on equity of 31.43%. During the same period last year, the firm posted $0.18 earnings per share. Analysts forecast that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were given a $0.2126 dividend. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a yield of 1.1%. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. Infosys’s dividend payout ratio (DPR) is currently 53.85%.

Infosys Company Profile

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.