Private Advisor Group LLC Sells 100,388 Shares of Infosys Ltd (INFY)

Private Advisor Group LLC trimmed its position in shares of Infosys Ltd (NYSE:INFY) by 84.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,324 shares of the technology company’s stock after selling 100,388 shares during the period. Private Advisor Group LLC’s holdings in Infosys were worth $174,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Guinness Asset Management Ltd raised its position in shares of Infosys by 29.8% during the 4th quarter. Guinness Asset Management Ltd now owns 5,320 shares of the technology company’s stock valued at $51,000 after purchasing an additional 1,220 shares during the period. Butensky & Cohen Financial Security Inc. raised its position in shares of Infosys by 0.7% during the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 219,510 shares of the technology company’s stock valued at $2,090,000 after purchasing an additional 1,460 shares during the period. Cerity Partners LLC raised its position in shares of Infosys by 2.3% during the 4th quarter. Cerity Partners LLC now owns 81,975 shares of the technology company’s stock valued at $780,000 after purchasing an additional 1,873 shares during the period. Nkcfo LLC bought a new stake in shares of Infosys during the 4th quarter valued at $25,000. Finally, Rehmann Capital Advisory Group raised its position in shares of Infosys by 100.4% during the 3rd quarter. Rehmann Capital Advisory Group now owns 5,439 shares of the technology company’s stock valued at $55,000 after purchasing an additional 2,725 shares during the period. Hedge funds and other institutional investors own 17.81% of the company’s stock.

Shares of NYSE INFY opened at $10.70 on Friday. The firm has a market capitalization of $45.85 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 2.05 and a beta of 0.54. Infosys Ltd has a 52-week low of $8.24 and a 52-week high of $10.94.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Friday, January 11th. The technology company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.95 billion. Infosys had a net margin of 18.95% and a return on equity of 24.93%. On average, equities research analysts predict that Infosys Ltd will post 0.52 earnings per share for the current year.

Several analysts have recently commented on INFY shares. Morgan Stanley upgraded shares of Infosys from an “equal weight” rating to an “overweight” rating in a research report on Monday, January 14th. Susquehanna Bancshares upgraded shares of Infosys from a “negative” rating to a “neutral” rating and raised their price objective for the company from $7.50 to $11.00 in a research report on Monday, January 14th. Citigroup upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Friday, January 4th. Wedbush decreased their price objective on shares of Infosys from $18.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 27th. Finally, Wells Fargo & Co set a $11.00 price objective on shares of Infosys and gave the company a “hold” rating in a research report on Friday, January 11th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $12.75.

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About Infosys

Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.

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Institutional Ownership by Quarter for Infosys (NYSE:INFY)

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