Infosys Limited (NYSE:INFY) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its position in shares of Infosys Limited (NYSE:INFY) by 11.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 740,319 shares of the technology company’s stock after selling 92,429 shares during the period. Janney Montgomery Scott LLC’s holdings in Infosys were worth $16,228,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Infosys during the fourth quarter valued at about $311,000. Simon Quick Advisors LLC lifted its stake in shares of Infosys by 10.5% in the 4th quarter. Simon Quick Advisors LLC now owns 10,657 shares of the technology company’s stock valued at $234,000 after purchasing an additional 1,014 shares in the last quarter. Atomi Financial Group Inc. grew its holdings in shares of Infosys by 1.7% during the 4th quarter. Atomi Financial Group Inc. now owns 38,263 shares of the technology company’s stock worth $839,000 after purchasing an additional 655 shares during the period. Perpetual Ltd increased its position in Infosys by 20.3% during the 4th quarter. Perpetual Ltd now owns 681,729 shares of the technology company’s stock worth $14,944,000 after purchasing an additional 115,068 shares in the last quarter. Finally, Ballentine Partners LLC raised its holdings in Infosys by 6.8% in the fourth quarter. Ballentine Partners LLC now owns 82,824 shares of the technology company’s stock valued at $1,816,000 after buying an additional 5,307 shares during the period. 16.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INFY has been the subject of several recent research reports. Hsbc Global Res raised shares of Infosys from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Investec downgraded Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Guggenheim restated a “neutral” rating on shares of Infosys in a research note on Friday, January 17th. StockNews.com upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, HSBC raised Infosys from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Infosys currently has an average rating of “Hold” and a consensus price target of $20.22.

Infosys Stock Performance

Shares of INFY opened at $21.70 on Friday. Infosys Limited has a one year low of $16.04 and a one year high of $23.63. The stock has a 50-day moving average price of $22.49 and a 200 day moving average price of $22.24. The company has a market capitalization of $89.86 billion, a P/E ratio of 27.46, a P/E/G ratio of 3.54 and a beta of 1.00.

Infosys (NYSE:INFY) last released 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 earnings per share. As a group, equities research analysts forecast 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.