Lazard Asset Management LLC Sells 3,383,880 Shares of Infosys Limited (NYSE:INFY)

Lazard Asset Management LLC trimmed its stake in shares of Infosys Limited (NYSE:INFY - Free Report) by 42.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,548,821 shares of the technology company's stock after selling 3,383,880 shares during the period. Lazard Asset Management LLC owned about 0.11% of Infosys worth $99,709,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Sierra Ocean LLC bought a new stake in shares of Infosys in the fourth quarter worth $29,000. Brooklyn Investment Group acquired a new stake in Infosys in the 4th quarter valued at $52,000. Farther Finance Advisors LLC lifted its position in Infosys by 69.7% during the 4th quarter. Farther Finance Advisors LLC now owns 3,115 shares of the technology company's stock worth $68,000 after buying an additional 1,279 shares in the last quarter. Principal Securities Inc. boosted its stake 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 buying an additional 3,267 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Infosys during the 4th quarter worth about $132,000. 16.20% of the stock is owned by institutional investors.

Infosys Trading Down 2.3%

NYSE:INFY traded down $0.42 on Friday, hitting $18.30. The company's stock had a trading volume of 12,913,567 shares, compared to its average volume of 9,709,290. Infosys Limited has a one year low of $15.82 and a one year high of $23.63. The stock has a fifty day moving average of $17.71 and a two-hundred day moving average of $20.46. The firm has a market capitalization of $75.78 billion, a P/E ratio of 23.16, a price-to-earnings-growth ratio of 3.50 and a beta of 0.98.

Infosys (NYSE:INFY - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The technology company reported $0.20 earnings per share for the quarter, beating 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 analysts' expectations of $420.69 billion. During the same quarter in the prior year, the business earned $0.23 EPS. As a group, sell-side analysts anticipate that Infosys Limited will post 0.74 EPS for the current year.

Wall Street Analyst Weigh In

INFY has been the topic of a number of recent research reports. The Goldman Sachs Group downgraded Infosys from a "buy" rating to a "neutral" rating and set a $17.90 target price on the stock. in a research report on Monday, April 21st. Guggenheim restated a "neutral" rating on shares of Infosys in a research note on Friday, January 17th. Stifel Nicolaus dropped their price objective on Infosys from $18.00 to $17.00 and set a "hold" rating on the stock in a research note on Monday, April 21st. Susquehanna raised Infosys from a "negative" rating to a "neutral" rating and set a $17.00 price objective for the company in a report on Monday, April 14th. Finally, StockNews.com cut shares of Infosys from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $17.48.

Infosys Company 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.