Wells Fargo & Company MN Sells 46,306 Shares of Infosys Limited (NYSE:INFY)

Wells Fargo & Company MN cut its position in shares of Infosys Limited (NYSE:INFY) by 25.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 134,789 shares of the technology company’s stock after selling 46,306 shares during the period. Wells Fargo & Company MN’s holdings in Infosys were worth $2,955,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of INFY. Integrated Quantitative Investments LLC bought a new stake in Infosys in the 4th quarter valued at $2,416,000. Massachusetts Financial Services Co. MA boosted its position in shares of Infosys by 4.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,725,418 shares of the technology company’s stock valued at $37,821,000 after acquiring an additional 77,426 shares in the last quarter. National Bank of Canada FI increased its stake in Infosys by 7.7% in the fourth quarter. National Bank of Canada FI now owns 62,851 shares of the technology company’s stock valued at $1,378,000 after acquiring an additional 4,502 shares during the period. Franklin Resources Inc. raised its position in Infosys by 2.0% in the fourth quarter. Franklin Resources Inc. now owns 11,501,533 shares of the technology company’s stock worth $252,114,000 after purchasing an additional 229,482 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG lifted its stake in Infosys by 3.3% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 270,073 shares of the technology company’s stock worth $5,920,000 after purchasing an additional 8,519 shares during the period. 16.20% of the stock is currently owned by institutional investors.

Infosys Stock Up 2.1 %

Shares of NYSE INFY opened at $17.22 on Thursday. The company has a market cap of $71.33 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 3.50 and a beta of 0.97. Infosys Limited has a 12-month low of $15.82 and a 12-month high of $23.63. The firm’s 50-day simple moving average is $18.57 and its 200 day simple moving average is $20.99.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. CLSA upgraded Infosys from a “hold” rating to an “outperform” rating in a research note on Friday, March 7th. Investec upgraded Infosys from a “sell” rating to a “buy” rating in a research note on Friday, April 18th. StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a research note on Wednesday. The Goldman Sachs Group lowered shares of Infosys from a “buy” rating to a “neutral” rating and set a $17.90 target price on the stock. in a report on Monday. Finally, Stifel Nicolaus cut their price target on shares of Infosys from $18.00 to $17.00 and set a “hold” rating for the company in a report on Monday. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.48.

About Infosys

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.