Legal & General Group Plc Sells 231,185 Shares of Infosys Limited (NYSE:INFY)

Legal & General Group Plc trimmed its position in Infosys Limited (NYSE:INFY) by 19.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 975,960 shares of the technology company’s stock after selling 231,185 shares during the period. Legal & General Group Plc’s holdings in Infosys were worth $21,398,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of INFY. Sierra Ocean LLC bought a new position in Infosys in the fourth quarter valued at about $29,000. Brooklyn Investment Group acquired a new position in shares of Infosys in the fourth quarter valued at approximately $52,000. Wilmington Savings Fund Society FSB acquired a new stake in Infosys during the 3rd quarter worth approximately $57,000. Farther Finance Advisors LLC boosted its position in Infosys by 69.7% during the 4th quarter. Farther Finance Advisors LLC now owns 3,115 shares of the technology company’s stock worth $68,000 after buying an additional 1,279 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Infosys by 14.2% during the 4th quarter. GAMMA Investing LLC now owns 4,496 shares of the technology company’s stock worth $99,000 after acquiring an additional 560 shares during the last quarter. Institutional investors and hedge funds own 16.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on INFY. CLSA upgraded shares of Infosys from a “hold” rating to an “outperform” rating in a report on Friday, March 7th. StockNews.com raised Infosys from a “hold” rating to a “buy” rating in a report on Monday, April 7th. Finally, Guggenheim reissued a “neutral” rating on shares of Infosys in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.70.

Infosys Trading Down 0.7 %

Shares of Infosys stock opened at $16.86 on Monday. The company has a market cap of $69.81 billion, a P/E ratio of 21.34, a PEG ratio of 3.50 and a beta of 0.97. The business has a 50-day moving average price of $19.40 and a two-hundred day moving average price of $21.29. Infosys Limited has a 1-year low of $16.04 and a 1-year high of $23.63.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, January 16th. The technology company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. Infosys had a return on equity of 31.60% and a net margin of 17.28%. During the same period in the prior year, the company earned $0.18 earnings per share. Equities research analysts forecast that Infosys Limited will post 0.74 EPS for the current fiscal year.

Infosys 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.