Macquarie Group Ltd. lowered its stake in Infosys Ltd (NYSE:INFY) by 52.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 38,000 shares of the technology company’s stock after selling 42,000 shares during the quarter. Macquarie Group Ltd.’s holdings in Infosys were worth $386,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in INFY. Bank of New York Mellon Corp lifted its position in Infosys by 1,119,378.1% in the third quarter. Bank of New York Mellon Corp now owns 34,065,719 shares of the technology company’s stock valued at $346,449,000 after purchasing an additional 34,062,676 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Infosys by 90.7% during the third quarter. Fisher Asset Management LLC now owns 41,232,613 shares of the technology company’s stock valued at $419,336,000 after acquiring an additional 19,614,497 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Infosys by 166.6% during the third quarter. BlackRock Inc. now owns 29,932,893 shares of the technology company’s stock valued at $304,416,000 after acquiring an additional 18,705,434 shares in the last quarter. Polaris Capital Management LLC raised its holdings in shares of Infosys by 106.5% during the third quarter. Polaris Capital Management LLC now owns 19,982,318 shares of the technology company’s stock valued at $203,220,000 after acquiring an additional 10,307,444 shares in the last quarter. Finally, Comgest Global Investors S.A.S. raised its holdings in shares of Infosys by 34.2% during the third quarter. Comgest Global Investors S.A.S. now owns 35,080,350 shares of the technology company’s stock valued at $356,768,000 after acquiring an additional 8,938,309 shares in the last quarter. Hedge funds and other institutional investors own 18.18% of the company’s stock.
A number of brokerages recently commented on INFY. ValuEngine upgraded Infosys from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Wedbush decreased their target price on Infosys from $18.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, November 27th. Zacks Investment Research downgraded Infosys from a “hold” rating to a “sell” rating in a report on Monday, December 31st. BMO Capital Markets reiterated a “hold” rating and issued a $11.00 price objective on shares of Infosys in a report on Wednesday, October 17th. Finally, Wells Fargo & Co set a $11.00 price objective on Infosys and gave the stock a “hold” rating in a report on Friday. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $13.48.
INFY opened at $10.41 on Friday. The firm has a market capitalization of $42.90 billion, a price-to-earnings ratio of 20.82, a PEG ratio of 1.85 and a beta of 0.42. Infosys Ltd has a 12-month low of $8.24 and a 12-month high of $10.68.
Infosys (NYSE:INFY) last released its earnings results on Tuesday, October 16th. The technology company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. Infosys had a return on equity of 24.56% and a net margin of 21.94%. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the prior year, the firm posted $0.13 earnings per share. On average, equities analysts forecast that Infosys Ltd will post 0.52 EPS for the current year.
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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