Vanguard Personalized Indexing Management LLC lowered its stake in Infosys Limited (NYSE:INFY – Get Rating) by 5.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 27,440 shares of the technology company’s stock after selling 1,449 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Infosys were worth $494,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. lifted its position in shares of Infosys by 4.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,735 shares of the technology company’s stock worth $417,000 after buying an additional 652 shares during the last quarter. Cibc World Market Inc. increased its holdings in shares of Infosys by 39.8% in the 1st quarter. Cibc World Market Inc. now owns 157,264 shares of the technology company’s stock worth $3,914,000 after acquiring an additional 44,768 shares during the period. Blair William & Co. IL acquired a new stake in shares of Infosys in the 1st quarter worth about $465,000. Canada Pension Plan Investment Board increased its holdings in shares of Infosys by 108.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,017,100 shares of the technology company’s stock worth $25,315,000 after acquiring an additional 528,900 shares during the period. Finally, Allianz Asset Management GmbH increased its holdings in shares of Infosys by 1.6% in the 1st quarter. Allianz Asset Management GmbH now owns 1,051,193 shares of the technology company’s stock worth $26,164,000 after acquiring an additional 16,102 shares during the period. Institutional investors own 12.68% of the company’s stock.
Analysts Set New Price Targets
Several research firms have commented on INFY. Citigroup cut shares of Infosys from a “buy” rating to a “neutral” rating in a research note on Thursday, April 13th. StockNews.com assumed coverage on shares of Infosys in a research report on Thursday, May 18th. They set a “hold” rating for the company. JPMorgan Chase & Co. assumed coverage on shares of Infosys in a research report on Tuesday, May 23rd. They set an “underweight” rating and a $14.00 price objective for the company. BMO Capital Markets reduced their price objective on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a research report on Friday, April 14th. Finally, Wedbush decreased their target price on shares of Infosys from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Monday, March 13th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Infosys has an average rating of “Hold” and an average target price of $18.57.
Infosys Stock Up 1.3 %
Infosys (NYSE:INFY – Get Rating) last issued its quarterly earnings data on Thursday, April 13th. The technology company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Infosys had a return on equity of 31.78% and a net margin of 16.37%. The firm had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.73 billion. During the same quarter in the previous year, the firm posted $0.18 earnings per share. On average, research analysts expect that Infosys Limited will post 0.76 EPS for the current fiscal year.
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.
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