Wells Fargo & Company MN Has $80.88 Million Holdings in Infosys Limited (INFY)
Wells Fargo & Company MN decreased its holdings in Infosys Limited (NYSE:INFY) by 7.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,543,473 shares of the technology company’s stock after selling 462,586 shares during the quarter. Wells Fargo & Company MN owned 0.24% of Infosys worth $80,878,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in Infosys by 198.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,967 shares of the technology company’s stock worth $120,000 after purchasing an additional 5,295 shares in the last quarter. Equity Investment Corp Acquisition Inc acquired a new stake in Infosys in the 2nd quarter worth about $151,000. Foster & Motley Inc. acquired a new stake in Infosys in the 3rd quarter worth about $166,000. Rational Advisors LLC acquired a new stake in Infosys in the 2nd quarter worth about $183,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Infosys by 4.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 13,365 shares of the technology company’s stock worth $201,000 after purchasing an additional 605 shares in the last quarter. Institutional investors and hedge funds own 18.95% of the company’s stock.
Several analysts have weighed in on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $15.50 price objective on shares of Infosys in a research note on Friday, August 18th. BidaskClub lowered shares of Infosys from a “sell” rating to a “strong sell” rating in a report on Saturday, November 4th. Zacks Investment Research raised shares of Infosys from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Wednesday, September 6th. Robert W. Baird reissued a “hold” rating and issued a $16.00 target price on shares of Infosys in a report on Wednesday, October 4th. Finally, J P Morgan Chase & Co lowered shares of Infosys from an “overweight” rating to a “neutral” rating in a report on Monday, August 21st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $15.34.
Infosys Limited (INFY) traded up $0.23 during mid-day trading on Wednesday, reaching $15.69. 5,626,600 shares of the company’s stock traded hands, compared to its average volume of 6,348,058. The company has a market cap of $35,336.60, a price-to-earnings ratio of 15.94, a P/E/G ratio of 1.68 and a beta of 0.69. Infosys Limited has a 52-week low of $13.42 and a 52-week high of $16.15.
Infosys (NYSE:INFY) last announced its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.78 billion. Infosys had a net margin of 21.04% and a return on equity of 21.05%. During the same period in the previous year, the firm posted $0.24 EPS. analysts anticipate that Infosys Limited will post 0.98 earnings per share for the current fiscal year.
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Infosys Limited is engaged in consulting, technology, outsourcing and next-generation services. The Company, along with its subsidiaries, provides business information technology services comprising application development and maintenance, independent validation, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking solution, and offerings in the areas of Analytics, Cloud and Digital Transformation.
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