Mercer Global Advisors Inc. ADV Sells 1,037 Shares of Infosys Limited (NYSE:INFY)

Mercer Global Advisors Inc. ADV trimmed its stake in shares of Infosys Limited (NYSE:INFY – Get Rating) by 4.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 20,091 shares of the technology company’s stock after selling 1,037 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Infosys were worth $362,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of INFY. Schubert & Co lifted its position in shares of Infosys by 73.8% during the 4th quarter. Schubert & Co now owns 1,557 shares of the technology company’s stock valued at $28,000 after acquiring an additional 661 shares during the period. Destiny Wealth Partners LLC lifted its position in shares of Infosys by 42.9% during the 4th quarter. Destiny Wealth Partners LLC now owns 1,922 shares of the technology company’s stock valued at $35,000 after acquiring an additional 577 shares during the period. Guardian Wealth Advisors LLC bought a new stake in shares of Infosys during the 3rd quarter valued at $38,000. Glassman Wealth Services lifted its position in shares of Infosys by 26.0% during the 4th quarter. Glassman Wealth Services now owns 2,800 shares of the technology company’s stock worth $50,000 after buying an additional 578 shares during the last quarter. Finally, Boston Partners bought a new stake in shares of Infosys during the 4th quarter worth $70,000. 12.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on INFY. BMO Capital Markets dropped their price objective on Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a research report on Friday, April 14th. Nomura downgraded Infosys from a “buy” rating to a “neutral” rating in a research report on Thursday, April 13th. Credit Suisse Group downgraded Infosys from an “outperform” rating to a “neutral” rating in a research report on Friday, April 14th. StockNews.com began coverage on Infosys in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. began coverage on Infosys in a research report on Tuesday. They issued an “underweight” rating and a $14.00 target price for the company. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Infosys has an average rating of “Hold” and a consensus target price of $18.57.

Infosys Trading Down 0.8 %

Shares of INFY stock opened at $15.53 on Wednesday. The stock has a market cap of $64.24 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.00 and a beta of 0.99. The stock has a 50-day moving average of $15.99 and a 200-day moving average of $17.76. Infosys Limited has a 1-year low of $14.71 and a 1-year high of $20.60.

Infosys (NYSE:INFY – Get Rating) last issued its quarterly earnings results on Thursday, April 13th. The technology company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). The company had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.73 billion. Infosys had a net margin of 16.37% and a return on equity of 31.78%. During the same period in the previous year, the company posted $0.18 EPS. Sell-side analysts forecast that Infosys Limited will post 0.76 earnings per share for the current year.

Infosys Company Profile

(Get Rating)

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.