Prudential Financial Inc. Reduces Stake in Infosys Ltd (INFY)

Prudential Financial Inc. cut its position in Infosys Ltd (NYSE:INFY) by 2.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,835,766 shares of the technology company’s stock after selling 49,784 shares during the period. Prudential Financial Inc. owned about 0.08% of Infosys worth $29,005,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Comgest Global Investors S.A.S. raised its position in Infosys by 11.4% in the fourth quarter. Comgest Global Investors S.A.S. now owns 35,854,909 shares of the technology company’s stock worth $531,728,000 after buying an additional 3,677,960 shares in the last quarter. Nordea Investment Management AB raised its position in Infosys by 43.9% in the first quarter. Nordea Investment Management AB now owns 32,853,555 shares of the technology company’s stock worth $519,086,000 after buying an additional 10,022,963 shares during the period. Harris Associates L P raised its position in Infosys by 105.6% in the first quarter. Harris Associates L P now owns 26,313,050 shares of the technology company’s stock worth $415,746,000 after buying an additional 13,512,800 shares during the period. Genesis Asset Managers LLP raised its position in Infosys by 11.5% in the first quarter. Genesis Asset Managers LLP now owns 13,740,028 shares of the technology company’s stock worth $217,092,000 after buying an additional 1,414,698 shares during the period. Finally, UBS Asset Management Americas Inc. raised its position in Infosys by 1.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 13,557,757 shares of the technology company’s stock worth $201,062,000 after buying an additional 209,067 shares during the period. 17.71% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Infosys (NYSE:INFY)

Shares of Infosys Ltd (NYSE:INFY) traded up 2.04% during trading on Thursday, hitting $15.51. 7,910,869 shares of the stock traded hands. The stock has a market cap of $35.45 billion, a PE ratio of 16.57 and a beta of 0.90. Infosys Ltd has a 12 month low of $13.42 and a 12 month high of $19.76. The firm’s 50-day moving average price is $14.87 and its 200-day moving average price is $14.81. Infosys also saw some unusual options trading activity on Monday. Investors acquired 11,372 put options on the company. This represents an increase of approximately 1,428% compared to the typical volume of 744 put options.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Thursday, April 13th. The technology company reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. Infosys had a net margin of 21.12% and a return on equity of 22.56%. The company had revenue of $171.20 billion during the quarter, compared to analyst estimates of $172.14 billion. During the same quarter last year, the business posted $0.23 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts anticipate that Infosys Ltd will post $0.97 EPS for the current year.

The business also recently disclosed a dividend, which will be paid on Friday, June 2nd. Investors of record on Friday, June 2nd will be issued a dividend of $0.21 per share. This is a positive change from Infosys’s previous dividend of $0.17. The ex-dividend date is Wednesday, May 31st. Infosys’s dividend payout ratio (DPR) is presently 36.56%.

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INFY has been the subject of several research reports. Zacks Investment Research lowered shares of Infosys from a “hold” rating to a “sell” rating in a research report on Monday, May 15th. Stifel Nicolaus reissued a “hold” rating and issued a $15.50 price target on shares of Infosys in a research note on Tuesday, April 18th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Infosys in a research note on Tuesday, April 18th. BMO Capital Markets reissued a “hold” rating and issued a $15.00 price target on shares of Infosys in a research note on Thursday, March 23rd. Finally, Cowen and Company set a $15.00 price target on shares of Infosys and gave the stock a “hold” rating in a research note on Thursday, April 13th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $16.47.

About Infosys

Infosys Limited is engaged in consulting, technology, outsourcing and next-generation services. The Company, along with its subsidiaries, provides business information technology services comprising application development and maintenance, independent validation, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking solution, and offerings in the areas of Analytics, Cloud and Digital Transformation.

12 Month Chart for NYSE:INFY

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