Infosys Limited (NYSE:INFY) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its stake in Infosys Limited (NYSE:INFYGet Rating) by 2.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 589,213 shares of the technology company’s stock after selling 14,040 shares during the quarter. Bank of Montreal Can’s holdings in Infosys were worth $11,029,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Veriti Management LLC lifted its position in Infosys by 8.1% in the second quarter. Veriti Management LLC now owns 56,746 shares of the technology company’s stock valued at $1,050,000 after buying an additional 4,245 shares during the last quarter. Schubert & Co acquired a new position in Infosys in the second quarter valued at about $31,000. Mercer Global Advisors Inc. ADV lifted its position in Infosys by 9.5% in the first quarter. Mercer Global Advisors Inc. ADV now owns 24,378 shares of the technology company’s stock valued at $607,000 after buying an additional 2,116 shares during the last quarter. abrdn plc lifted its position in Infosys by 8.5% in the first quarter. abrdn plc now owns 325,126 shares of the technology company’s stock valued at $8,160,000 after buying an additional 25,482 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Infosys by 75.1% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 54,100 shares of the technology company’s stock valued at $1,001,000 after buying an additional 23,200 shares during the last quarter. Institutional investors and hedge funds own 13.01% of the company’s stock.

Infosys Price Performance

NYSE:INFY opened at $19.53 on Thursday. The firm’s fifty day moving average price is $18.09 and its 200 day moving average price is $18.64. Infosys Limited has a 1-year low of $16.39 and a 1-year high of $26.39. The firm has a market cap of $82.17 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 2.72 and a beta of 0.98.

Infosys (NYSE:INFYGet Rating) last posted its quarterly earnings data on Thursday, October 13th. The technology company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. Infosys had a net margin of 16.90% and a return on equity of 30.67%. The firm had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same period last year, the firm posted $0.17 EPS. As a group, analysts expect that Infosys Limited will post 0.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INFY has been the topic of several research reports. Cowen reduced their price target on shares of Infosys from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, October 14th. JPMorgan Chase & Co. cut shares of Infosys from an “overweight” rating to a “neutral” rating in a report on Monday, August 22nd. They noted that the move was a valuation call. BMO Capital Markets reduced their target price on shares of Infosys from $21.00 to $20.00 and set a “market perform” rating on the stock in a report on Friday, October 14th. Cowen dropped their price target on shares of Infosys from $19.00 to $18.00 and set a “market perform” rating on the stock in a research note on Friday, October 14th. Finally, The Goldman Sachs Group lowered shares of Infosys from a “buy” rating to a “sell” rating in a research report on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $21.06.

Infosys Profile

(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.

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Institutional Ownership by Quarter for Infosys (NYSE:INFY)

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