Russell Investments Group Ltd. Sells 272,314 Shares of Infosys Limited (NYSE:INFY)

Russell Investments Group Ltd. lessened its position in shares of Infosys Limited (NYSE:INFY) by 8.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,874,847 shares of the technology company’s stock after selling 272,314 shares during the period. Russell Investments Group Ltd.’s holdings in Infosys were worth $52,840,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in INFY. State of New Jersey Common Pension Fund D lifted its stake in Infosys by 1.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 4,762,663 shares of the technology company’s stock valued at $87,538,000 after purchasing an additional 53,155 shares during the last quarter. Yousif Capital Management LLC lifted its stake in Infosys by 7.0% in the 4th quarter. Yousif Capital Management LLC now owns 72,089 shares of the technology company’s stock valued at $1,325,000 after purchasing an additional 4,735 shares during the last quarter. GAMMA Investing LLC bought a new position in Infosys in the 4th quarter valued at approximately $36,000. Foster & Motley Inc. lifted its stake in Infosys by 5.7% in the 4th quarter. Foster & Motley Inc. now owns 172,699 shares of the technology company’s stock valued at $3,174,000 after purchasing an additional 9,360 shares during the last quarter. Finally, Cable Hill Partners LLC lifted its stake in Infosys by 14.0% in the 4th quarter. Cable Hill Partners LLC now owns 19,118 shares of the technology company’s stock valued at $349,000 after purchasing an additional 2,343 shares during the last quarter. Institutional investors own 10.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on INFY. BMO Capital Markets dropped their price objective on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a research note on Friday, April 19th. HSBC reaffirmed a “hold” rating and set a $20.10 price target on shares of Infosys in a research note on Friday, April 19th. Bank of America raised shares of Infosys from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 9th. Wedbush reaffirmed an “outperform” rating and set a $22.00 price target on shares of Infosys in a research note on Wednesday, March 13th. Finally, Guggenheim started coverage on shares of Infosys in a research note on Tuesday, March 19th. They set a “neutral” rating and a $20.00 price target for the company. One 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 company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.27.

Infosys Price Performance

INFY opened at $16.94 on Monday. The firm has a market capitalization of $70.12 billion, a P/E ratio of 22.29, a PEG ratio of 2.26 and a beta of 0.93. Infosys Limited has a fifty-two week low of $14.98 and a fifty-two week high of $20.74. The company’s 50-day moving average is $18.49 and its 200 day moving average is $18.33.

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

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.