Infosys Limited (NYSE:INFY) Position Trimmed by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its stake in Infosys Limited (NYSE:INFY) by 25.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 134,789 shares of the technology company’s stock after selling 46,306 shares during the quarter. Wells Fargo & Company MN’s holdings in Infosys were worth $2,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. boosted its stake in shares of Infosys by 6.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 25,841,022 shares of the technology company’s stock valued at $566,435,000 after buying an additional 1,501,039 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Infosys by 0.7% during the fourth quarter. Fisher Asset Management LLC now owns 14,517,359 shares of the technology company’s stock worth $318,221,000 after acquiring an additional 102,341 shares in the last quarter. Franklin Resources Inc. boosted its position in Infosys by 2.0% during the fourth quarter. Franklin Resources Inc. now owns 11,501,533 shares of the technology company’s stock valued at $252,114,000 after purchasing an additional 229,482 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Infosys by 118.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,912,259 shares of the technology company’s stock worth $173,437,000 after purchasing an additional 4,296,291 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Infosys by 31.3% during the 4th quarter. American Century Companies Inc. now owns 4,603,993 shares of the technology company’s stock worth $100,920,000 after purchasing an additional 1,097,105 shares in the last quarter. 16.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INFY has been the subject of several recent research reports. Susquehanna raised Infosys from a “negative” rating to a “neutral” rating and set a $17.00 price target for the company in a research note on Monday, April 14th. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus reduced their price objective on shares of Infosys from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Monday. Investec raised Infosys from a “sell” rating to a “buy” rating in a research report on Friday, April 18th. Finally, CLSA raised Infosys from a “hold” rating to an “outperform” rating in a research note on Friday, March 7th. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Infosys presently has an average rating of “Moderate Buy” and an average target price of $17.48.

Infosys Stock Performance

NYSE INFY opened at $17.22 on Thursday. The stock has a market capitalization of $71.33 billion, a PE ratio of 21.80, a P/E/G ratio of 3.50 and a beta of 0.97. The stock has a 50-day simple moving average of $18.57 and a 200 day simple moving average of $20.99. Infosys Limited has a twelve month low of $15.82 and a twelve month high of $23.63.

Infosys (NYSE:INFY) last posted its quarterly earnings data on Thursday, April 17th. The technology company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. Infosys had a return on equity of 31.60% and a net margin of 17.28%. The company had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $420.69 billion. During the same period in the prior year, the business earned $0.23 earnings per share. As a group, equities research analysts forecast that Infosys Limited will post 0.74 EPS for the current fiscal year.

Infosys Profile

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other.