Raymond James & Associates Reduces Stock Holdings in Infosys Limited (NYSE:INFY)

Raymond James & Associates decreased its stake in Infosys Limited (NYSE:INFY – Get Rating) by 15.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 217,857 shares of the technology company’s stock after selling 38,602 shares during the period. Raymond James & Associates’ holdings in Infosys were worth $3,924,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in Infosys by 2.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 19,246 shares of the technology company’s stock valued at $347,000 after acquiring an additional 534 shares during the period. Destiny Wealth Partners LLC boosted its holdings in 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. Glassman Wealth Services boosted its holdings in Infosys by 26.0% during the 4th quarter. Glassman Wealth Services now owns 2,800 shares of the technology company’s stock valued at $50,000 after acquiring an additional 578 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in 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 valued at $417,000 after acquiring an additional 652 shares during the period. Finally, Schubert & Co boosted its holdings in 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. Hedge funds and other institutional investors own 12.68% of the company’s stock.

Infosys Trading Up 0.2 %

INFY opened at $15.56 on Thursday. The stock has a fifty day moving average price of $15.97 and a 200-day moving average price of $17.75. Infosys Limited has a 12 month low of $14.71 and a 12 month high of $20.60. The firm has a market cap of $64.36 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 2.06 and a beta of 0.99.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on INFY shares. 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 report on Friday, April 14th. Macquarie lowered Infosys from an “outperform” rating to a “neutral” rating in a research report on Sunday, April 16th. Nomura lowered Infosys from a “buy” rating to a “neutral” rating in a research report on Thursday, April 13th. Wedbush decreased their target price on Infosys from $25.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday, March 13th. Finally, JPMorgan Chase & Co. initiated coverage on Infosys in a research report on Tuesday. They set an “underweight” rating and a $14.00 target price for the company. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $18.57.

Infosys Company Profile

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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.