Infosys Limited (NYSE:INFY) Shares Sold by Boston Common Asset Management LLC

by · The Cerbat Gem

Boston Common Asset Management LLC reduced its stake in Infosys Limited (NYSE:INFY – Free Report) by 0.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 438,939 shares of the technology company’s stock after selling 620 shares during the period. Boston Common Asset Management LLC’s holdings in Infosys were worth $9,775,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of INFY. FIL Ltd raised its stake in Infosys by 5.9% in the fourth quarter. FIL Ltd now owns 18,459,935 shares of the technology company’s stock valued at $339,294,000 after buying an additional 1,031,371 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Infosys in the fourth quarter valued at $356,000. Krane Funds Advisors LLC raised its stake in Infosys by 55.8% in the fourth quarter. Krane Funds Advisors LLC now owns 60,059 shares of the technology company’s stock valued at $1,104,000 after buying an additional 21,505 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Infosys by 539.8% during the fourth quarter. Wellington Management Group LLP now owns 2,010,636 shares of the technology company’s stock worth $36,955,000 after purchasing an additional 1,696,378 shares during the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in shares of Infosys during the fourth quarter worth about $415,000. 10.89% of the stock is currently owned by institutional investors and hedge funds.

Infosys Trading Down 2.6 %

INFY stock opened at $22.66 on Friday. The firm has a 50 day moving average of $22.46 and a 200-day moving average of $19.73. Infosys Limited has a 12-month low of $16.04 and a 12-month high of $23.48. The company has a market cap of $93.85 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 3.68 and a beta of 0.99.

Infosys (NYSE:INFY – Get Free Report) last issued its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. Infosys had a return on equity of 32.01% and a net margin of 17.18%. The firm had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the previous year, the firm posted $0.17 EPS. Sell-side analysts forecast that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on INFY shares. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. StockNews.com raised Infosys from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Finally, Investec lowered Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Infosys presently has an average rating of “Hold” and a consensus price target of $19.68.

View Our Latest Research Report on INFY

About Infosys

(Free Report)

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides digital marketing and digital workplace, digital commerce, digital experience and interactions, metaverse, data analytics and AI, applied AI, generative AI, sustainability, blockchain, engineering, Internet of Things, enterprise agile DevOps, application modernization, cloud, digital process automation, digital supply chain, Microsoft business application and cloud business, service experience transformation, energy transition, cyber security, and quality engineering solutions; Oracle, SAP, and Saleforce solutions; API economy and microservices; and Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies.

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