Infosys Limited (NYSE:INFY) Position Cut by FIL Ltd

FIL Ltd lowered its position in shares of Infosys Limited (NYSE:INFY) by 9.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,727,831 shares of the technology company’s stock after selling 1,066,162 shares during the period. FIL Ltd owned 0.23% of Infosys worth $213,234,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. FMR LLC grew its holdings in Infosys by 77.8% in the 3rd quarter. FMR LLC now owns 170,704 shares of the technology company’s stock worth $3,802,000 after buying an additional 74,697 shares in the last quarter. Captrust Financial Advisors boosted its position in Infosys by 32.5% during the 3rd quarter. Captrust Financial Advisors now owns 21,718 shares of the technology company’s stock worth $484,000 after acquiring an additional 5,325 shares during the period. Benjamin Edwards Inc. bought a new position in shares of Infosys in the third quarter worth $232,000. Quantinno Capital Management LP increased its holdings in shares of Infosys by 47.4% during the third quarter. Quantinno Capital Management LP now owns 86,985 shares of the technology company’s stock valued at $1,937,000 after purchasing an additional 27,972 shares during the period. Finally, Kovitz Investment Group Partners LLC bought a new stake in shares of Infosys during the third quarter valued at about $206,000. Institutional investors and hedge funds own 16.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Guggenheim restated a “neutral” rating on shares of Infosys in a research report on Friday, January 17th. CLSA raised Infosys from a “hold” rating to an “outperform” rating in a report on Friday, March 7th. Finally, StockNews.com upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.70.

Infosys Stock Performance

NYSE INFY opened at $16.40 on Wednesday. The stock has a market capitalization of $67.91 billion, a P/E ratio of 20.75, a P/E/G ratio of 3.50 and a beta of 0.97. The business’s fifty day moving average is $19.78 and its two-hundred day moving average is $21.44. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.63.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, January 16th. 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 31.60% and a net margin of 17.28%. During the same quarter last year, the firm earned $0.18 EPS. On average, research analysts forecast that Infosys Limited will post 0.74 earnings per share for the current year.

Infosys Profile

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.