Raymond James & Associates Trims Stock Position in Infosys Limited (NYSE:INFY)

Raymond James & Associates lowered its holdings in shares of Infosys Limited (NYSE:INFY) by 49.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,436 shares of the technology company’s stock after selling 32,495 shares during the quarter. Raymond James & Associates’ holdings in Infosys were worth $615,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Infosys by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock valued at $139,327,000 after purchasing an additional 180,888 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of Infosys during the 3rd quarter valued at approximately $5,047,000. Rhumbline Advisers grew its stake in shares of Infosys by 3.0% during the 3rd quarter. Rhumbline Advisers now owns 908,911 shares of the technology company’s stock valued at $15,551,000 after acquiring an additional 26,833 shares during the period. American Century Companies Inc. grew its stake in shares of Infosys by 33.9% during the 3rd quarter. American Century Companies Inc. now owns 3,687,017 shares of the technology company’s stock valued at $63,085,000 after acquiring an additional 932,570 shares during the period. Finally, Royal London Asset Management Ltd. grew its stake in shares of Infosys by 97.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 646,094 shares of the technology company’s stock valued at $11,058,000 after acquiring an additional 318,547 shares during the period. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on INFY shares. Guggenheim started coverage on Infosys in a research note on Tuesday, March 19th. They set a “neutral” rating and a $20.00 price objective for the company. Wedbush restated an “outperform” rating and issued a $22.00 price target on shares of Infosys in a research note on Wednesday, March 13th. UBS Group upgraded Infosys from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 3rd. StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, Susquehanna dropped their price target on Infosys from $15.00 to $14.00 and set a “negative” rating for the company in a research note on Friday, April 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Infosys has an average rating of “Hold” and an average target price of $19.27.

Infosys Price Performance

Shares of INFY opened at $17.04 on Thursday. The business’s 50 day simple moving average is $18.63 and its 200-day simple moving average is $18.34. Infosys Limited has a 1 year low of $14.78 and a 1 year high of $20.74. The stock has a market capitalization of $70.51 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 2.32 and a beta of 0.93.

Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. Infosys had a return on equity of 32.33% and a net margin of 17.06%. The company had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the prior year, the firm posted $0.18 EPS. On average, sell-side analysts expect that Infosys Limited will post 0.75 earnings per share for the current year.

About Infosys

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.