Bank of Montreal Can Sells 14,040 Shares of Infosys Limited (NYSE:INFY)

Bank of Montreal Can lowered its position in Infosys Limited (NYSE:INFYGet Rating) by 2.3% in the second quarter, Holdings Channel.com reports. The fund owned 589,213 shares of the technology company’s stock after selling 14,040 shares during the period. Bank of Montreal Can’s holdings in Infosys were worth $11,029,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Desjardins Global Asset Management Inc. lifted its position in shares of Infosys by 0.3% in the 2nd quarter. Desjardins Global Asset Management Inc. now owns 166,992 shares of the technology company’s stock worth $3,090,000 after acquiring an additional 497 shares during the period. Ascent Group LLC lifted its position in shares of Infosys by 2.5% during the 2nd quarter. Ascent Group LLC now owns 22,168 shares of the technology company’s stock worth $432,000 after buying an additional 547 shares during the period. Buckingham Capital Management Inc. lifted its position in shares of Infosys by 1.5% during the 1st quarter. Buckingham Capital Management Inc. now owns 40,768 shares of the technology company’s stock worth $1,015,000 after buying an additional 596 shares during the period. Professional Financial Advisors LLC lifted its position in shares of Infosys by 160.1% during the 1st quarter. Professional Financial Advisors LLC now owns 1,056 shares of the technology company’s stock worth $26,000 after buying an additional 650 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Infosys by 4.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,735 shares of the technology company’s stock worth $417,000 after buying an additional 652 shares during the period. Institutional investors own 13.01% of the company’s stock.

Infosys Trading Up 0.8 %

Shares of INFY stock opened at $19.53 on Thursday. The stock has a market cap of $82.17 billion, a P/E ratio of 27.90, a price-to-earnings-growth ratio of 2.72 and a beta of 0.98. The stock has a 50 day simple moving average of $18.09 and a 200 day simple moving average of $18.64. Infosys Limited has a 1 year low of $16.39 and a 1 year high of $26.39.

Infosys (NYSE:INFYGet Rating) last issued its quarterly earnings results on Thursday, October 13th. The technology company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.56 billion. Infosys had a return on equity of 30.67% and a net margin of 16.90%. During the same period in the previous year, the company posted $0.17 earnings per share. Analysts forecast that Infosys Limited will post 0.71 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. JPMorgan Chase & Co. downgraded Infosys from an “overweight” rating to a “neutral” rating in a research report on Monday, August 22nd. They noted that the move was a valuation call. StockNews.com raised Infosys from a “hold” rating to a “buy” rating in a report on Friday, November 11th. Susquehanna Bancshares cut Infosys to a “neutral” rating and dropped their price target for the company from $29.00 to $20.00 in a report on Friday, September 16th. Investec raised Infosys from a “hold” rating to a “buy” rating in a report on Friday, October 14th. Finally, Cowen dropped their price target on Infosys from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, October 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Infosys presently has a consensus rating of “Hold” and an average target price of $21.06.

About Infosys

(Get Rating)

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 development and management, independent validation, product engineering and management, infrastructure management, enterprise application management, and support and integration services.

Featured Stories

Want to see what other hedge funds are holding INFY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Infosys Limited (NYSE:INFYGet Rating).

Institutional Ownership by Quarter for Infosys (NYSE:INFY)

Receive News & Ratings for Infosys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infosys and related companies with MarketBeat.com's FREE daily email newsletter.