Manning & Napier Advisors LLC lessened its stake in shares of Infosys Limited (NYSE:INFY) by 17.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 237,475 shares of the technology company’s stock after selling 49,525 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Infosys Limited were worth $3,464,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in shares of Infosys Limited by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,729 shares of the technology company’s stock valued at $282,000 after acquiring an additional 395 shares during the period. Wetherby Asset Management Inc. increased its holdings in shares of Infosys Limited by 1.1% in the 2nd quarter. Wetherby Asset Management Inc. now owns 40,994 shares of the technology company’s stock valued at $616,000 after acquiring an additional 464 shares during the period. Sumitomo Life Insurance Co. increased its holdings in shares of Infosys Limited by 3.4% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 15,040 shares of the technology company’s stock valued at $226,000 after acquiring an additional 500 shares during the period. Creative Planning increased its holdings in shares of Infosys Limited by 2.1% in the 2nd quarter. Creative Planning now owns 24,672 shares of the technology company’s stock valued at $371,000 after acquiring an additional 513 shares during the period. Finally, M&T Bank Corp increased its holdings in shares of Infosys Limited by 0.9% in the 2nd quarter. M&T Bank Corp now owns 68,760 shares of the technology company’s stock valued at $1,033,000 after acquiring an additional 590 shares during the period. 19.05% of the stock is currently owned by institutional investors and hedge funds.

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A number of brokerages have recently commented on INFY. Zacks Investment Research raised shares of Infosys Limited from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Tuesday, September 19th. UBS AG cut shares of Infosys Limited from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Cowen and Company set a $15.00 price objective on shares of Infosys Limited and gave the company a “hold” rating in a research note on Friday, August 18th. Goldman Sachs Group, Inc. (The) raised shares of Infosys Limited from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $12.40 to $12.88 in a research note on Sunday, September 17th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $15.50 price objective on shares of Infosys Limited in a research note on Friday, August 18th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. Infosys Limited currently has an average rating of “Hold” and an average price target of $15.34.

Shares of Infosys Limited (NYSE INFY) traded down $0.08 during midday trading on Monday, hitting $15.19. 3,214,400 shares of the company’s stock traded hands, compared to its average volume of 6,443,972. The stock has a market cap of $34,719.46, a price-to-earnings ratio of 15.66, a P/E/G ratio of 1.65 and a beta of 0.68. Infosys Limited has a 52 week low of $13.42 and a 52 week high of $16.15.

Infosys Limited (NYSE:INFY) last issued its earnings results on Tuesday, October 24th. The technology company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.78 billion. Infosys Limited had a net margin of 21.04% and a return on equity of 21.05%. During the same period in the previous year, the firm earned $0.24 EPS. equities analysts anticipate that Infosys Limited will post 0.98 earnings per share for the current year.

The business also recently announced a dividend, which was paid on Wednesday, November 1st. Shareholders of record on Wednesday, November 1st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, October 31st. Infosys Limited’s payout ratio is currently 40.21%.

Infosys Limited Company Profile

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.

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Institutional Ownership by Quarter for Infosys Limited (NYSE:INFY)

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