Sequoia Financial Advisors LLC Sells 82,684 Shares of Infosys Ltd. $INFY

Sequoia Financial Advisors LLC lowered its stake in shares of Infosys Ltd. (NYSE:INFY) by 50.1% during the 1st quarter, according to its most recent Form 13F filing 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. PFG Investments LLC lifted its position in Infosys by 19.3% in the 1st quarter. PFG Investments LLC now owns 21,396 shares of the technology company’s stock valued at $289,000 after acquiring an additional 3,464 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Infosys by 6.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,155 shares of the technology company’s stock valued at $1,153,000 after purchasing an additional 3,804 shares during the period. QRG Capital Management Inc. grew its position in Infosys by 29.2% during 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. Deltec Asset Management LLC grew its position in shares of Infosys by 13.6% during the 1st quarter. Deltec Asset Management LLC now owns 58,500 shares of the technology company’s stock valued at $790,000 after acquiring an additional 7,000 shares during the period. Finally, V Square Quantitative Management LLC bought a new stake in shares of Infosys in the 1st quarter worth approximately $97,000. Institutional investors own 16.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Susquehanna decreased their price objective on Infosys from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, July 10th. BMO Capital Markets lowered their price objective on Infosys from $20.00 to $15.00 and set a “market perform” rating on the stock in a research report on Friday, April 24th. Stifel Nicolaus set a $13.00 target price on shares of Infosys and gave the company a “hold” rating in a research report on Thursday. Wells Fargo & Company set a $11.00 price target on shares of Infosys and gave the stock an “equal weight” rating in a report on Friday, June 26th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Infosys from $16.80 to $12.70 and set an “overweight” rating on the stock in a research report on Wednesday, June 24th. One equities research 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, the stock has a consensus rating of “Hold” and a consensus target price of $12.50.

Infosys Stock Performance

NYSE INFY opened at $11.52 on Friday. The stock has a market cap of $46.60 billion, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 1.51 and a beta of 0.90. Infosys Ltd. has a fifty-two week low of $10.34 and a fifty-two week high of $30.00. The stock has a 50 day simple moving average of $11.71 and a two-hundred day simple moving average of $13.95.

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

Infosys Company 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.