Geode Capital Management LLC Sells 53,221 Shares of Infosys Limited (NYSE:INFY)

Geode Capital Management LLC cut its position in shares of Infosys Limited (NYSE:INFY) by 6.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 754,613 shares of the technology company’s stock after selling 53,221 shares during the quarter. Geode Capital Management LLC’s holdings in Infosys were worth $16,805,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. boosted its holdings in Infosys by 68.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock valued at $542,051,000 after purchasing an additional 9,923,744 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Infosys by 37.3% during the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock worth $401,826,000 after acquiring an additional 5,862,144 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Infosys by 9.7% in the 3rd quarter. Fisher Asset Management LLC now owns 14,415,018 shares of the technology company’s stock worth $321,022,000 after purchasing an additional 1,271,890 shares during the period. Millennium Management LLC lifted its stake in shares of Infosys by 67.9% in the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock valued at $141,532,000 after purchasing an additional 3,074,432 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Infosys by 5.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,072,537 shares of the technology company’s stock worth $135,235,000 after purchasing an additional 297,183 shares in the last quarter. 16.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

INFY has been the subject of several analyst reports. Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. BMO Capital Markets increased their price target on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Hsbc Global Res upgraded Infosys from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. HSBC upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Finally, Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Infosys presently has an average rating of “Moderate Buy” and a consensus price target of $20.85.

Infosys Trading Down 0.7 %

Shares of INFY stock opened at $22.48 on Monday. The stock has a market cap of $93.11 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 3.77 and a beta of 1.00. Infosys Limited has a 12 month low of $16.04 and a 12 month high of $23.63. The company’s fifty day moving average price is $22.28 and its 200-day moving average price is $21.78.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 the consensus estimate of $4.89 billion. During the same quarter in the prior year, the firm posted $0.18 earnings per share. On average, sell-side analysts forecast that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

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

About Infosys

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other.