Genesis Investment Management LLP Cuts Stake in Infosys Limited (NYSE:INFY)

Genesis Investment Management LLP lowered its stake in Infosys Limited (NYSE:INFY) by 30.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,199,105 shares of the technology company’s stock after selling 978,700 shares during the quarter. Infosys comprises approximately 7.9% of Genesis Investment Management LLP’s investment portfolio, making the stock its 6th biggest holding. Genesis Investment Management LLP owned 0.05% of Infosys worth $40,420,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of INFY. HB Wealth Management LLC raised its holdings in shares of Infosys by 5.7% in the fourth quarter. HB Wealth Management LLC now owns 10,661 shares of the technology company’s stock valued at $196,000 after purchasing an additional 575 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Infosys by 7.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 8,840 shares of the technology company’s stock valued at $142,000 after purchasing an additional 610 shares during the last quarter. Marshall Financial Group LLC raised its holdings in shares of Infosys by 1.2% in the fourth quarter. Marshall Financial Group LLC now owns 52,478 shares of the technology company’s stock valued at $965,000 after purchasing an additional 622 shares during the last quarter. Rosenberg Matthew Hamilton raised its holdings in shares of Infosys by 7.2% in the third quarter. Rosenberg Matthew Hamilton now owns 9,591 shares of the technology company’s stock valued at $164,000 after purchasing an additional 644 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in Infosys by 4.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 16,735 shares of the technology company’s stock worth $417,000 after buying an additional 652 shares during the last quarter. Institutional investors own 10.89% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on INFY. BMO Capital Markets boosted their target price on shares of Infosys from $18.00 to $21.00 and gave the stock a “market perform” rating in a report on Friday, January 12th. Bank of America upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a report on Tuesday, April 9th. UBS Group upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a report on Wednesday, January 3rd. Wedbush restated an “outperform” rating and set a $22.00 target price on shares of Infosys in a report on Wednesday, March 13th. Finally, StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.76.

Infosys Trading Down 1.3 %

NYSE INFY traded down $0.22 during trading on Wednesday, hitting $17.05. 13,033,300 shares of the company’s stock were exchanged, compared to its average volume of 11,211,273. The company has a market cap of $70.57 billion, a PE ratio of 24.01, a P/E/G ratio of 2.28 and a beta of 0.93. Infosys Limited has a fifty-two week low of $14.71 and a fifty-two week high of $20.74. The stock’s 50 day moving average price is $19.01 and its two-hundred day moving average price is $18.36.

Infosys 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.