Infosys Limited (NYSE:INFY) Shares Sold by Raymond James & Associates

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JFS Wealth Advisors LLC raised its position in Infosys by 88.3% in 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 period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Infosys during the 3rd quarter worth about $85,000. Stratos Wealth Partners LTD. purchased a new stake in Infosys during the 3rd quarter worth about $172,000. HB Wealth Management LLC increased its holdings in Infosys by 5.7% during the 4th quarter. HB Wealth Management LLC now owns 10,661 shares of the technology company’s stock worth $196,000 after purchasing an additional 575 shares during the period. Finally, Ieq Capital LLC purchased a new stake in Infosys during the 3rd quarter worth about $189,000. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Stock Down 0.7 %

INFY opened at $17.04 on Thursday. The business has a 50 day moving average price of $18.63 and a two-hundred day moving average price of $18.34. The company has a market cap of $70.51 billion, a PE ratio of 22.41, a P/E/G ratio of 2.32 and a beta of 0.93. Infosys Limited has a 52 week low of $14.78 and a 52 week high of $20.74.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Infosys in a research report on Wednesday, March 13th. Guggenheim assumed coverage on Infosys in a research report on Tuesday, March 19th. They set a “neutral” rating and a $20.00 price objective for the company. UBS Group raised Infosys from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 3rd. Susquehanna lowered their price objective on Infosys from $15.00 to $14.00 and set a “negative” rating for the company in a research report on Friday, April 19th. Finally, Bank of America raised Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Infosys 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.