Infosys Limited (INFY) Position Cut by Prudential Financial Inc.

Prudential Financial Inc. decreased its position in shares of Infosys Limited (NYSE:INFY) by 36.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,008,014 shares of the technology company’s stock after selling 579,900 shares during the period. Prudential Financial Inc.’s holdings in Infosys were worth $14,707,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of INFY. The Manufacturers Life Insurance Company lifted its stake in Infosys by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 18,729 shares of the technology company’s stock worth $282,000 after purchasing an additional 395 shares during the last quarter. Wetherby Asset Management Inc. raised its stake in Infosys by 1.1% in the second quarter. Wetherby Asset Management Inc. now owns 40,994 shares of the technology company’s stock worth $616,000 after buying an additional 464 shares in the last quarter. Sumitomo Life Insurance Co. raised its stake in Infosys by 3.4% in the second quarter. Sumitomo Life Insurance Co. now owns 15,040 shares of the technology company’s stock worth $226,000 after buying an additional 500 shares in the last quarter. Creative Planning raised its stake in Infosys by 2.1% in the second quarter. Creative Planning now owns 24,672 shares of the technology company’s stock worth $371,000 after buying an additional 513 shares in the last quarter. Finally, M&T Bank Corp grew its holdings in Infosys by 0.9% in the second quarter. M&T Bank Corp now owns 68,760 shares of the technology company’s stock worth $1,033,000 after purchasing an additional 590 shares during the last quarter. Hedge funds and other institutional investors own 18.95% of the company’s stock.

Shares of Infosys Limited (INFY) traded down $0.13 during trading hours on Wednesday, reaching $15.56. 4,161,775 shares of the company traded hands, compared to its average volume of 6,338,754. Infosys Limited has a 12-month low of $13.42 and a 12-month high of $16.15. The firm has a market cap of $35,336.60, a price-to-earnings ratio of 15.94, a P/E/G ratio of 1.68 and a beta of 0.69.

Infosys (NYSE:INFY) last issued its earnings results on Tuesday, October 24th. The technology company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Infosys had a net margin of 21.04% and a return on equity of 21.05%. The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the previous year, the firm earned $0.24 earnings per share. analysts anticipate that Infosys Limited will post 0.98 EPS for the current fiscal year.

INFY has been the topic of several analyst reports. BidaskClub lowered shares of Infosys from a “sell” rating to a “strong sell” rating in a report on Saturday, November 4th. Zacks Investment Research lowered shares of Infosys from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Deutsche Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Monday, August 28th. Robert W. Baird restated a “hold” rating and set a $16.00 price target on shares of Infosys in a research report on Sunday, September 3rd. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Infosys in a research note on Thursday, October 26th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $15.34.

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Infosys Company Profile

Infosys Limited is engaged in consulting, technology, outsourcing and next-generation services. The Company, along with its subsidiaries, provides business information technology services comprising application development and maintenance, independent validation, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking solution, and offerings in the areas of Analytics, Cloud and Digital Transformation.

Institutional Ownership by Quarter for Infosys (NYSE:INFY)

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