Ameriprise Financial Inc. Sells 378,958 Shares of Infosys Limited (NYSE:INFY)

Ameriprise Financial Inc. reduced its holdings in Infosys Limited (NYSE:INFY) by 11.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,792,829 shares of the technology company’s stock after selling 378,958 shares during the quarter. Ameriprise Financial Inc.’s holdings in Infosys were worth $61,212,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. AQR Capital Management LLC raised its holdings in shares of Infosys by 270.9% during the fourth quarter. AQR Capital Management LLC now owns 9,164,085 shares of the technology company’s stock worth $200,877,000 after acquiring an additional 6,693,127 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Infosys by 118.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,912,259 shares of the technology company’s stock worth $173,437,000 after buying an additional 4,296,291 shares during the period. First Trust Advisors LP raised its position in Infosys by 14.5% in the 4th quarter. First Trust Advisors LP now owns 32,410,108 shares of the technology company’s stock valued at $710,430,000 after buying an additional 4,108,903 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Infosys by 1,668.3% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,228,211 shares of the technology company’s stock valued at $75,470,000 after acquiring an additional 3,045,656 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Infosys by 92.2% during the 4th quarter. Northern Trust Corp now owns 3,565,697 shares of the technology company’s stock worth $78,160,000 after acquiring an additional 1,710,906 shares during the last quarter. 16.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Susquehanna raised shares of Infosys from a “negative” rating to a “neutral” rating and set a $17.00 price objective on the stock in a research report on Monday, April 14th. Stifel Nicolaus reduced their price objective on shares of Infosys from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Monday, April 21st. BMO Capital Markets lowered their target price on Infosys from $25.00 to $18.00 and set a “market perform” rating on the stock in a research report on Monday, April 21st. The Goldman Sachs Group downgraded Infosys from a “buy” rating to a “neutral” rating and set a $17.90 price target for the company. in a research note on Monday, April 21st. Finally, StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a report on Wednesday, April 23rd. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.48.

Infosys Stock Down 0.1 %

Infosys stock opened at $17.48 on Friday. The company’s 50-day moving average price is $17.81 and its two-hundred day moving average price is $20.56. The stock has a market cap of $72.40 billion, a P/E ratio of 22.13, a P/E/G ratio of 3.50 and a beta of 0.98. Infosys Limited has a twelve month low of $15.82 and a twelve month high of $23.63.

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

Infosys Company Profile

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.