Congress Wealth Management LLC DE Trims Holdings in Infosys Limited (NYSE:INFY)

Congress Wealth Management LLC DE lowered its holdings in Infosys Limited (NYSE:INFY) by 5.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 25,942 shares of the technology company’s stock after selling 1,546 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Infosys were worth $569,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in INFY. SG Americas Securities LLC purchased a new stake in Infosys in the fourth quarter worth $311,000. Jones Financial Companies Lllp raised its holdings in Infosys by 15.9% in the 4th quarter. Jones Financial Companies Lllp now owns 7,520 shares of the technology company’s stock worth $165,000 after purchasing an additional 1,030 shares in the last quarter. Haven Global Partners LLC bought a new position in Infosys in the 4th quarter worth $4,078,000. Nomura Asset Management Co. Ltd. lifted its position in shares of Infosys by 22.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 670,907 shares of the technology company’s stock worth $14,941,000 after purchasing an additional 123,083 shares during the period. Finally, Barclays PLC boosted its stake in shares of Infosys by 11.8% during the 3rd quarter. Barclays PLC now owns 2,523,605 shares of the technology company’s stock valued at $56,200,000 after purchasing an additional 266,902 shares in the last quarter. 16.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Guggenheim restated a “neutral” rating on shares of Infosys in a report on Friday, January 17th. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a research note on Thursday, March 20th. Hsbc Global Res raised Infosys from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. HSBC raised Infosys from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Finally, CLSA raised shares of Infosys from a “hold” rating to an “outperform” rating in a research report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Infosys has a consensus rating of “Hold” and an average price target of $19.70.

Infosys Price Performance

Shares of NYSE:INFY opened at $18.17 on Friday. The business has a fifty day moving average price of $20.45 and a 200-day moving average price of $21.76. The company has a market capitalization of $75.26 billion, a PE ratio of 23.00, a PEG ratio of 3.50 and a beta of 1.01. Infosys Limited has a 1-year low of $16.04 and a 1-year high of $23.63.

Infosys (NYSE:INFY) last released its quarterly earnings data on Thursday, January 16th. The technology company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. Infosys had a net margin of 17.28% and a return on equity of 31.60%. During the same quarter last year, the company posted $0.18 earnings per share. On average, sell-side analysts anticipate that Infosys Limited will post 0.74 earnings per share for the current fiscal year.

About Infosys

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.