Earnest Partners LLC Sells 858 Shares of Infosys Limited (NYSE:INFY)

Earnest Partners LLC cut its stake in shares of Infosys Limited (NYSE:INFY) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 126,252 shares of the technology company’s stock after selling 858 shares during the quarter. Earnest Partners LLC’s holdings in Infosys were worth $2,767,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. First Trust Advisors LP boosted its stake 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 worth $710,430,000 after purchasing an additional 4,108,903 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Infosys by 6.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 25,841,022 shares of the technology company’s stock worth $566,435,000 after purchasing an additional 1,501,039 shares during the period. Fisher Asset Management LLC boosted its stake in Infosys by 0.7% in the 4th quarter. Fisher Asset Management LLC now owns 14,517,359 shares of the technology company’s stock worth $318,221,000 after purchasing an additional 102,341 shares during the period. Franklin Resources Inc. boosted its stake in Infosys by 2.0% in the 4th 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 during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Infosys by 118.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,912,259 shares of the technology company’s stock valued at $173,437,000 after acquiring an additional 4,296,291 shares during the last quarter. 16.20% of the stock is currently owned by institutional investors.

Infosys Price Performance

Shares of INFY opened at $17.34 on Tuesday. Infosys Limited has a 1-year low of $15.82 and a 1-year high of $23.63. The company has a 50-day moving average of $18.33 and a 200 day moving average of $20.84. The firm has a market capitalization of $71.82 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 3.50 and a beta of 0.97.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on INFY shares. BMO Capital Markets lowered their target price on Infosys from $25.00 to $18.00 and set a “market perform” rating for the company in a research report on Monday, April 21st. StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a research report on Wednesday, April 23rd. Investec upgraded Infosys from a “sell” rating to a “buy” rating in a research report on Friday, April 18th. Stifel Nicolaus cut their price objective on shares of Infosys from $18.00 to $17.00 and set a “hold” rating on the stock in a research report on Monday, April 21st. Finally, Susquehanna upgraded shares of Infosys from a “negative” rating to a “neutral” rating and set a $17.00 target price for the company in a report on Monday, April 14th. Seven analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Infosys currently has an average rating of “Moderate Buy” and an average price target of $17.48.

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.