Legal & General Group Plc Sells 231,185 Shares of Infosys Limited (NYSE:INFY)

Legal & General Group Plc lowered its position in Infosys Limited (NYSE:INFY) by 19.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 975,960 shares of the technology company’s stock after selling 231,185 shares during the period. Legal & General Group Plc’s holdings in Infosys were worth $21,398,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC grew its holdings in shares of Infosys by 6.4% during the third quarter. Orion Portfolio Solutions LLC now owns 29,148 shares of the technology company’s stock valued at $649,000 after buying an additional 1,741 shares during the last quarter. MML Investors Services LLC boosted its stake in Infosys by 27.6% during the 3rd quarter. MML Investors Services LLC now owns 19,685 shares of the technology company’s stock valued at $438,000 after purchasing an additional 4,261 shares during the last quarter. Barclays PLC increased its holdings in Infosys by 11.8% during the 3rd quarter. Barclays PLC now owns 2,523,605 shares of the technology company’s stock worth $56,200,000 after purchasing an additional 266,902 shares in the last quarter. M&T Bank Corp raised its stake in shares of Infosys by 247.3% in the third quarter. M&T Bank Corp now owns 94,907 shares of the technology company’s stock worth $2,114,000 after purchasing an additional 67,580 shares during the last quarter. Finally, Tudor Financial Inc. bought a new position in shares of Infosys in the third quarter valued at approximately $496,000. Institutional investors and hedge funds own 16.20% of the company’s stock.

Infosys Stock Performance

Shares of NYSE:INFY opened at $16.86 on Monday. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.63. The company’s 50-day moving average is $19.40 and its 200 day moving average is $21.29. The company has a market capitalization of $69.81 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 3.50 and a beta of 0.97.

Infosys (NYSE:INFY) last released its earnings results on Thursday, January 16th. The technology company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. Infosys had a net margin of 17.28% and a return on equity of 31.60%. During the same quarter in the prior year, the company posted $0.18 earnings per share. As a group, research analysts predict that Infosys Limited will post 0.74 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.