Russell Investments Group Ltd. trimmed its stake in shares of Infosys Limited (NYSE:INFY - Free Report) by 8.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,874,847 shares of the technology company's stock after selling 272,314 shares during the period. Russell Investments Group Ltd. owned 0.07% of Infosys worth $52,840,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC purchased a new position in Infosys during the fourth quarter valued at $36,000. JFS Wealth Advisors LLC lifted its position in Infosys by 88.3% during the third quarter. JFS Wealth Advisors LLC now owns 2,945 shares of the technology company's stock valued at $50,000 after purchasing an additional 1,381 shares during the last quarter. Planned Solutions Inc. bought a new position in Infosys during the fourth quarter valued at $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Infosys during the third quarter valued at $85,000. Finally, Blue Trust Inc. lifted its position in Infosys by 61.8% during the fourth quarter. Blue Trust Inc. now owns 9,443 shares of the technology company's stock valued at $161,000 after purchasing an additional 3,606 shares during the last quarter. 10.89% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. Susquehanna lowered their price objective on shares of Infosys from $15.00 to $14.00 and set a "negative" rating for the company in a research report on Friday, April 19th. Wedbush restated an "outperform" rating and issued a $22.00 target price on shares of Infosys in a report on Wednesday, March 13th. UBS Group upgraded shares of Infosys from a "neutral" rating to a "buy" rating in a report on Wednesday, January 3rd. BMO Capital Markets lowered their target price on shares of Infosys from $21.00 to $18.00 and set a "market perform" rating for the company in a report on Friday, April 19th. Finally, Bank of America upgraded shares of Infosys from a "neutral" rating to a "buy" rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $19.27.
Get Our Latest Stock Report on Infosys
Infosys Price Performance
NYSE INFY traded up $0.03 during trading on Monday, reaching $16.97. 7,426,487 shares of the company's stock traded hands, compared to its average volume of 9,675,475. The firm has a market cap of $70.24 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 2.26 and a beta of 0.93. The company's 50 day simple moving average is $18.49 and its two-hundred day simple moving average is $18.33. Infosys Limited has a 12-month low of $14.98 and a 12-month high of $20.74.
Infosys (NYSE:INFY - Get Free Report) last issued its quarterly earnings data on Thursday, April 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. Infosys had a net margin of 17.06% and a return on equity of 32.33%. The firm had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the previous year, the firm earned $0.18 EPS. Research analysts expect that Infosys Limited will post 0.75 earnings per share for the current fiscal year.
Infosys Company Profile
(
Free Report)
Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides digital marketing and digital workplace, digital commerce, digital experience and interactions, metaverse, data analytics and AI, applied AI, generative AI, sustainability, blockchain, engineering, Internet of Things, enterprise agile DevOps, application modernization, cloud, digital process automation, digital supply chain, Microsoft business application and cloud business, service experience transformation, energy transition, cyber security, and quality engineering solutions; Oracle, SAP, and Saleforce solutions; API economy and microservices; and Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies.
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