Infosys Limited (NYSE:INFY) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. reduced its stake in Infosys Limited (NYSE:INFY) by 21.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 98,854 shares of the technology company’s stock after selling 26,438 shares during the quarter. Logan Capital Management Inc.’s holdings in Infosys were worth $2,167,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. BHK Investment Advisors LLC boosted its holdings in Infosys by 2.3% in the fourth quarter. BHK Investment Advisors LLC now owns 22,785 shares of the technology company’s stock valued at $499,000 after purchasing an additional 507 shares during the period. Outlook Wealth Advisors LLC raised its position in Infosys by 2.8% in the 4th quarter. Outlook Wealth Advisors LLC now owns 18,405 shares of the technology company’s stock valued at $403,000 after purchasing an additional 508 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its stake in shares of Infosys by 5.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 10,467 shares of the technology company’s stock valued at $229,000 after buying an additional 579 shares during the period. Flagship Harbor Advisors LLC grew its position in shares of Infosys by 6.2% during the fourth quarter. Flagship Harbor Advisors LLC now owns 11,026 shares of the technology company’s stock worth $242,000 after buying an additional 641 shares in the last quarter. Finally, Atomi Financial Group Inc. increased its stake in shares of Infosys by 1.7% during the fourth quarter. Atomi Financial Group Inc. now owns 38,263 shares of the technology company’s stock worth $839,000 after buying an additional 655 shares during the period. Hedge funds and other institutional investors own 16.20% of the company’s stock.

Infosys Price Performance

Shares of INFY opened at $18.68 on Tuesday. The firm has a fifty day moving average price of $17.78 and a 200 day moving average price of $20.51. The stock has a market cap of $77.36 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 3.50 and a beta of 0.98. Infosys Limited has a 1-year low of $15.82 and a 1-year high of $23.63.

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

Analyst Ratings Changes

INFY has been the subject of a number of recent research reports. The Goldman Sachs Group downgraded shares of 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. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a research report on Wednesday, April 23rd. Stifel Nicolaus dropped their target price on Infosys from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Monday, April 21st. Susquehanna raised Infosys from a “negative” rating to a “neutral” rating and set a $17.00 price target for the company in a report on Monday, April 14th. Finally, CLSA raised Infosys from a “hold” rating to an “outperform” rating in a research report on Friday, March 7th. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Infosys currently has a consensus 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.