Sequoia Financial Advisors LLC Has $1.11 Million Stock Holdings in Infosys Ltd. $INFY

Sequoia Financial Advisors LLC cut its position in shares of Infosys Ltd. (NYSE:INFY) by 50.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,307 shares of the technology company’s stock after selling 82,684 shares during the period. Sequoia Financial Advisors LLC’s holdings in Infosys were worth $1,112,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Hudson Edge Investment Partners Inc. increased its holdings in Infosys by 56.5% during the 1st quarter. Hudson Edge Investment Partners Inc. now owns 4,452,990 shares of the technology company’s stock valued at $60,160,000 after purchasing an additional 1,607,300 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Infosys during the 1st quarter worth about $97,000. QRG Capital Management Inc. lifted its holdings in Infosys by 29.2% in the first quarter. QRG Capital Management Inc. now owns 29,497 shares of the technology company’s stock valued at $398,000 after buying an additional 6,664 shares during the period. PFG Investments LLC grew its holdings in Infosys by 19.3% during the 1st quarter. PFG Investments LLC now owns 21,396 shares of the technology company’s stock worth $289,000 after acquiring an additional 3,464 shares during the period. Finally, Keybank National Association OH acquired a new stake in Infosys during the 1st quarter worth $205,000. Institutional investors own 16.20% of the company’s stock.

Infosys Trading Down 0.1%

Shares of Infosys stock opened at $11.52 on Friday. The firm’s 50 day moving average is $11.71 and its 200 day moving average is $13.95. The firm has a market capitalization of $46.60 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 1.51 and a beta of 0.90. Infosys Ltd. has a 1 year low of $10.34 and a 1 year high of $30.00.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Wednesday, April 1st. The technology company reported $0.23 earnings per share for the quarter. The company had revenue of $5.04 billion for the quarter. Infosys had a net margin of 16.44% and a return on equity of 32.64%. As a group, research analysts anticipate that Infosys Ltd. will post 0.82 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on INFY shares. JPMorgan Chase & Co. reduced their target price on Infosys from $16.80 to $12.70 and set an “overweight” rating on the stock in a report on Wednesday, June 24th. BMO Capital Markets reduced their price objective on shares of Infosys from $20.00 to $15.00 and set a “market perform” rating for the company in a research note on Friday, April 24th. Weiss Ratings restated a “hold (c-)” rating on shares of Infosys in a report on Monday, June 8th. Stifel Nicolaus set a $13.00 target price on Infosys and gave the company a “hold” rating in a research report on Thursday. Finally, TD Cowen dropped their price objective on Infosys from $13.00 to $10.00 and set a “hold” rating on the stock in a research note on Thursday, July 9th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.50.

Infosys 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. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.