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

Comgest Global Investors S.A.S. lowered its stake in Infosys Limited (NYSE:INFY) by 3.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,414,493 shares of the technology company’s stock after selling 57,980 shares during the period. Infosys makes up approximately 0.5% of Comgest Global Investors S.A.S.’s holdings, making the stock its 29th biggest position. Comgest Global Investors S.A.S.’s holdings in Infosys were worth $31,501,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV increased its stake in Infosys by 2.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock valued at $328,000 after acquiring an additional 505 shares during the period. Outlook Wealth Advisors LLC boosted its holdings in shares of Infosys by 3.0% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company’s stock worth $399,000 after acquiring an additional 526 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Infosys by 22.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after acquiring an additional 541 shares in the last quarter. D Orazio & Associates Inc. lifted its holdings in Infosys by 4.1% during the 2nd quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock worth $274,000 after buying an additional 584 shares in the last quarter. Finally, Somerset Trust Co lifted its holdings in Infosys by 4.2% during the 2nd quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock worth $282,000 after buying an additional 611 shares in the last quarter. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Price Performance

INFY stock traded down $0.29 during trading hours on Friday, reaching $21.53. 7,650,501 shares of the stock were exchanged, compared to its average volume of 9,246,825. The firm’s 50-day moving average is $22.33 and its 200-day moving average is $20.56. The company has a market cap of $89.17 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 3.56 and a beta of 1.00. Infosys Limited has a 12 month low of $16.04 and a 12 month high of $23.48.

Infosys (NYSE:INFY) last released its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the company earned $0.18 EPS. As a group, equities research analysts forecast that Infosys Limited will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were paid a dividend of $0.2126 per share. This represents a dividend yield of 1.1%. This is an increase from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date was Tuesday, October 29th. Infosys’s dividend payout ratio is currently 53.85%.

Analysts Set New Price Targets

Several research analysts have issued reports on INFY shares. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. BMO Capital Markets upped their target price 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. Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. Investec cut shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Finally, StockNews.com upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.