Longfellow Investment Management Co. LLC Sells 41,605 Shares of Infosys Limited (NYSE:INFY)

Longfellow Investment Management Co. LLC cut its stake in shares of Infosys Limited (NYSE:INFY) by 22.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 141,638 shares of the technology company’s stock after selling 41,605 shares during the quarter. Infosys makes up approximately 0.8% of Longfellow Investment Management Co. LLC’s portfolio, making the stock its 18th biggest position. Longfellow Investment Management Co. LLC’s holdings in Infosys were worth $3,154,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Mizuho Securities Co. Ltd. bought a new stake in shares of Infosys during the third quarter valued at approximately $33,000. GAMMA Investing LLC raised its holdings in shares of Infosys by 22.6% in the second 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. Hilltop National Bank lifted its position in shares of Infosys by 50.8% during the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after buying an additional 1,004 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Infosys by 126.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock valued at $56,000 after purchasing an additional 1,693 shares during the period. Finally, Ridgewood Investments LLC bought a new position in Infosys during the second quarter valued at about $162,000. Institutional investors own 10.89% of the company’s stock.

Infosys Stock Performance

NYSE:INFY opened at $22.48 on Monday. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.48. The business has a 50 day moving average price of $22.24 and a 200-day moving average price of $20.79. The firm has a market cap of $93.11 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 3.68 and a beta of 1.00.

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

Infosys Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were given a dividend of $0.2126 per share. The ex-dividend date 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%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Investec lowered Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. BMO Capital Markets boosted their price target on shares of Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Two equities research analysts have 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, Infosys currently has an average rating of “Hold” and an average target price of $20.85.

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.