BlackRock Inc. cut its holdings in Infosys Ltd (NYSE:INFY) by 13.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 25,951,488 shares of the technology company’s stock after selling 3,981,405 shares during the quarter. BlackRock Inc. owned about 0.60% of Infosys worth $247,058,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of INFY. US Bancorp DE raised its holdings in Infosys by 93.8% in the 3rd quarter. US Bancorp DE now owns 72,270 shares of the technology company’s stock valued at $735,000 after acquiring an additional 34,981 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Infosys by 109.4% in the 3rd quarter. Wells Fargo & Company MN now owns 3,878,714 shares of the technology company’s stock valued at $39,446,000 after acquiring an additional 2,026,740 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Infosys by 104.3% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 40,904 shares of the technology company’s stock valued at $416,000 after acquiring an additional 20,886 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Infosys by 120.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 81,519 shares of the technology company’s stock valued at $829,000 after acquiring an additional 44,566 shares during the last quarter. Finally, Penserra Capital Management LLC raised its holdings in Infosys by 163.7% in the 3rd quarter. Penserra Capital Management LLC now owns 12,348 shares of the technology company’s stock valued at $125,000 after acquiring an additional 7,665 shares during the last quarter. Institutional investors and hedge funds own 17.81% of the company’s stock.
A number of analysts have commented on INFY shares. Cantor Fitzgerald reiterated a “hold” rating and issued a $10.00 price objective on shares of Infosys in a report on Friday, January 11th. Morgan Stanley upgraded shares of Infosys from an “equal weight” rating to an “overweight” rating in a report on Monday, January 14th. ValuEngine upgraded shares of Infosys from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Zacks Investment Research downgraded shares of Infosys from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Finally, Susquehanna Bancshares upgraded shares of Infosys from a “negative” rating to a “neutral” rating and increased their price objective for the company from $7.50 to $11.00 in a report on Monday, January 14th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $12.75.
Shares of NYSE INFY opened at $10.70 on Friday. The company has a market cap of $45.85 billion, a PE ratio of 21.40, a PEG ratio of 2.05 and a beta of 0.54. Infosys Ltd has a 1 year low of $8.24 and a 1 year high of $10.94.
Infosys (NYSE:INFY) last announced its quarterly earnings results on Friday, January 11th. The technology company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.95 billion. Infosys had a net margin of 18.95% and a return on equity of 24.93%. Research analysts forecast that Infosys Ltd will post 0.52 earnings per share for the current fiscal year.
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Infosys Company Profile
Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.
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