Rhumbline Advisers Decreases Stock Position in Infosys Limited (NYSE:INFY)

Rhumbline Advisers decreased its stake in shares of Infosys Limited (NYSE:INFY - Free Report) by 19.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 575,246 shares of the technology company's stock after selling 140,477 shares during the quarter. Rhumbline Advisers' holdings in Infosys were worth $10,498,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Sierra Ocean LLC acquired a new position in shares of Infosys during the 4th quarter worth about $29,000. Farther Finance Advisors LLC boosted its stake in Infosys by 69.7% in the 4th quarter. Farther Finance Advisors LLC now owns 3,115 shares of the technology company's stock valued at $68,000 after purchasing an additional 1,279 shares during the period. Principal Securities Inc. grew its position in shares of Infosys by 210.1% during the 4th quarter. Principal Securities Inc. now owns 4,822 shares of the technology company's stock worth $106,000 after purchasing an additional 3,267 shares in the last quarter. Fairtree Asset Management Pty Ltd acquired a new position in Infosys in the fourth quarter valued at about $130,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Infosys during the fourth quarter worth $132,000. Institutional investors own 16.20% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on INFY shares. BMO Capital Markets cut their target price on Infosys from $25.00 to $18.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Investec raised Infosys from a "sell" rating to a "buy" rating in a research report on Friday, April 18th. Susquehanna raised shares of Infosys from a "negative" rating to a "neutral" rating and set a $17.00 price target on the stock in a research report on Monday, April 14th. Stifel Nicolaus dropped their price objective on Infosys from $18.00 to $17.00 and set a "hold" rating for the company in a research note on Monday, April 21st. Finally, The Goldman Sachs Group lowered shares of Infosys from a "buy" rating to a "neutral" rating and set a $17.90 price objective for the company. in a report on Monday, April 21st. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Infosys presently has an average rating of "Moderate Buy" and a consensus price target of $17.48.

Infosys Price Performance

Shares of NYSE:INFY traded up $0.11 during trading on Wednesday, reaching $18.62. 15,531,149 shares of the company were exchanged, compared to its average volume of 9,717,610. The firm has a market capitalization of $77.13 billion, a PE ratio of 23.56, a P/E/G ratio of 3.50 and a beta of 0.98. Infosys Limited has a 12-month low of $15.82 and a 12-month high of $23.63. The business's fifty day simple moving average is $17.64 and its 200-day simple moving average is $20.03.

Infosys (NYSE:INFY - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. Infosys had a return on equity of 31.60% and a net margin of 17.28%. The business had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $420.69 billion. During the same period in the prior year, the firm posted $0.23 earnings per share. On average, sell-side analysts anticipate that Infosys Limited will post 0.74 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.