Federated Hermes Inc. Sells 44,488 Shares of Infosys Limited (NYSE:INFY)

Federated Hermes Inc. cut its stake in Infosys Limited (NYSE:INFY) by 10.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 365,190 shares of the technology company’s stock after selling 44,488 shares during the period. Federated Hermes Inc.’s holdings in Infosys were worth $6,712,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of INFY. Vanguard Group Inc. raised its stake in shares of Infosys by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock valued at $139,327,000 after buying an additional 180,888 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Infosys in the 3rd quarter valued at $5,047,000. Rhumbline Advisers raised its stake in shares of Infosys by 3.0% in the 3rd quarter. Rhumbline Advisers now owns 908,911 shares of the technology company’s stock valued at $15,551,000 after buying an additional 26,833 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Infosys by 3.3% during the 4th quarter. Baillie Gifford & Co. now owns 3,190,513 shares of the technology company’s stock worth $58,642,000 after purchasing an additional 102,273 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Infosys by 39.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,744,741 shares of the technology company’s stock worth $32,068,000 after purchasing an additional 491,350 shares in the last quarter. 10.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INFY. JPMorgan Chase & Co. upgraded shares of Infosys from a “neutral” rating to an “overweight” rating in a research report on Wednesday, January 3rd. BMO Capital Markets dropped their target price on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a research report on Friday, April 19th. Bank of America upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. UBS Group upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 3rd. Finally, Susquehanna dropped their target price on shares of Infosys from $15.00 to $14.00 and set a “negative” rating for the company in a research report on Friday, April 19th. 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 data from MarketBeat, Infosys currently has a consensus rating of “Hold” and a consensus price target of $19.27.

Infosys Stock Down 0.2 %

Shares of NYSE:INFY opened at $17.01 on Friday. Infosys Limited has a 12 month low of $14.78 and a 12 month high of $20.74. The company’s 50-day moving average price is $18.56 and its two-hundred day moving average price is $18.33. The firm has a market cap of $70.41 billion, a P/E ratio of 22.38, a P/E/G ratio of 2.28 and a beta of 0.93.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. The company 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 last year, the firm earned $0.18 EPS. As a group, equities analysts predict that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.