Bank of New York Mellon Corp Decreases Stake in Infosys Limited (NYSE:INFY)

Bank of New York Mellon Corp lessened its stake in shares of Infosys Limited (NYSE:INFY) by 81.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 925,416 shares of the technology company’s stock after selling 4,170,624 shares during the quarter. Bank of New York Mellon Corp’s holdings in Infosys were worth $20,285,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sierra Ocean LLC purchased a new stake in Infosys in the fourth quarter worth about $29,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Infosys in the third quarter valued at approximately $33,000. Brooklyn Investment Group purchased a new stake in shares of Infosys in the fourth quarter valued at about $52,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Infosys during the 3rd quarter worth approximately $57,000. Finally, GAMMA Investing LLC boosted its position in shares of Infosys by 14.2% during the fourth quarter. GAMMA Investing LLC now owns 4,496 shares of the technology company’s stock worth $99,000 after buying an additional 560 shares during the period. 16.20% of the stock is currently owned by hedge funds and other institutional investors.

Infosys Stock Down 2.2 %

Shares of NYSE:INFY opened at $19.43 on Tuesday. The business has a 50 day moving average price of $21.54 and a 200 day moving average price of $22.18. Infosys Limited has a twelve month low of $16.04 and a twelve month high of $23.63. The company has a market cap of $80.47 billion, a price-to-earnings ratio of 24.59, a PEG ratio of 3.50 and a beta of 1.01.

Infosys (NYSE:INFY) last posted its quarterly 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 net margin of 17.28% and a return on equity of 31.60%. During the same quarter in the prior year, the company earned $0.18 EPS. Analysts anticipate that Infosys Limited will post 0.74 EPS for the current year.

Analysts Set New Price Targets

INFY has been the topic of a number of recent research reports. CLSA raised shares of Infosys from a “hold” rating to an “outperform” rating in a report on Friday. Hsbc Global Res upgraded 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. StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Guggenheim reiterated a “neutral” rating on shares of Infosys in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.22.

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.