SVB Wealth LLC Decreases Stock Holdings in Infosys Limited (NYSE:INFY)

SVB Wealth LLC trimmed its holdings in Infosys Limited (NYSE:INFY) by 9.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,674 shares of the technology company’s stock after selling 1,480 shares during the quarter. SVB Wealth LLC’s holdings in Infosys were worth $270,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new stake in shares of Infosys during the 3rd quarter valued at approximately $158,356,000. Aikya Investment Management Ltd purchased a new stake in shares of Infosys during the 4th quarter valued at approximately $71,409,000. FMR LLC raised its position in shares of Infosys by 15.2% during the 3rd quarter. FMR LLC now owns 24,819,637 shares of the technology company’s stock valued at $424,664,000 after buying an additional 3,275,485 shares during the period. Value Partners Investments Inc. raised its position in shares of Infosys by 857.8% during the 3rd quarter. Value Partners Investments Inc. now owns 2,701,000 shares of the technology company’s stock valued at $46,214,000 after buying an additional 2,419,000 shares during the period. Finally, American Century Companies Inc. raised its position 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 buying an additional 932,570 shares during the period. 10.89% of the stock is owned by hedge funds and other institutional investors.

Infosys Stock Up 2.9 %

NYSE:INFY opened at $17.30 on Tuesday. The company has a fifty day simple moving average of $18.74 and a two-hundred day simple moving average of $18.35. The company has a market cap of $71.61 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 2.21 and a beta of 0.93. Infosys Limited has a 52 week low of $14.71 and a 52 week high of $20.74.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.49 billion. Infosys had a net margin of 17.06% and a return on equity of 32.33%. During the same quarter in the previous year, the firm posted $0.18 earnings per share. On average, analysts expect that Infosys Limited will post 0.76 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on INFY shares. JPMorgan Chase & Co. raised shares of Infosys from a “neutral” rating to an “overweight” rating in a research report on Wednesday, January 3rd. Bank of America raised Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Guggenheim assumed coverage on Infosys in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 target price on the stock. Finally, Susquehanna cut their target price on Infosys from $15.00 to $14.00 and set a “negative” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.27.

Infosys Profile

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.