Infosys Limited (NYSE:INFY) Shares Sold by C WorldWide Group Holding A S

C WorldWide Group Holding A S lessened its holdings in Infosys Limited (NYSE:INFY) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 741,530 shares of the technology company’s stock after selling 23,322 shares during the quarter. C WorldWide Group Holding A S’s holdings in Infosys were worth $13,629,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in INFY. GAMMA Investing LLC bought a new stake in shares of Infosys during the fourth quarter valued at about $36,000. JFS Wealth Advisors LLC raised its stake in shares of Infosys by 88.3% during the third quarter. JFS Wealth Advisors LLC now owns 2,945 shares of the technology company’s stock valued at $50,000 after purchasing an additional 1,381 shares in the last quarter. Planned Solutions Inc. bought a new stake in shares of Infosys during the fourth quarter valued at about $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Infosys during the third quarter valued at about $85,000. Finally, Blue Trust Inc. raised its stake in shares of Infosys by 61.8% during the fourth quarter. Blue Trust Inc. now owns 9,443 shares of the technology company’s stock valued at $161,000 after purchasing an additional 3,606 shares in the last quarter. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Stock Performance

INFY traded down $0.07 during trading on Friday, reaching $16.94. The company had a trading volume of 8,845,064 shares, compared to its average volume of 12,953,776. Infosys Limited has a 12-month low of $14.98 and a 12-month high of $20.74. The firm’s 50-day simple moving average is $18.49 and its 200 day simple moving average is $18.32. The company has a market cap of $70.12 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 2.27 and a beta of 0.93.

Infosys (NYSE:INFY) last released its earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. Infosys had a return on equity of 32.33% and a net margin of 17.06%. The company had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.49 billion. During the same quarter in the previous year, the business posted $0.18 EPS. On average, sell-side analysts expect that Infosys Limited will post 0.75 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on INFY shares. BNP Paribas assumed coverage on shares of Infosys in a research note on Wednesday, January 17th. They set an “outperform” rating and a $24.00 price objective on the stock. HSBC reiterated a “hold” rating and issued a $20.10 price target on shares of Infosys in a research report on Friday, April 19th. JPMorgan Chase & Co. upgraded shares of Infosys from a “neutral” rating to an “overweight” rating in a research report on Wednesday, January 3rd. Wedbush reiterated an “outperform” rating and issued a $22.00 price target on shares of Infosys in a research report on Wednesday, March 13th. Finally, UBS Group upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.27.

About Infosys

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides digital marketing and digital workplace, digital commerce, digital experience and interactions, metaverse, data analytics and AI, applied AI, generative AI, sustainability, blockchain, engineering, Internet of Things, enterprise agile DevOps, application modernization, cloud, digital process automation, digital supply chain, Microsoft business application and cloud business, service experience transformation, energy transition, cyber security, and quality engineering solutions; Oracle, SAP, and Saleforce solutions; API economy and microservices; and Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies.