First Trust Advisors LP Sells 40,870,543 Shares of Infosys Ltd. $INFY

First Trust Advisors LP cut its holdings in Infosys Ltd. (NYSE:INFY) by 69.9% in the first quarter, Holdings Channel.com reports. The fund owned 17,585,905 shares of the technology company’s stock after selling 40,870,543 shares during the quarter. First Trust Advisors LP’s holdings in Infosys were worth $237,586,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. XY Capital Ltd bought a new position in shares of Infosys during the 1st quarter valued at $4,319,000. ABN Amro Investment Solutions lifted its stake in shares of Infosys by 94.2% in the 1st quarter. ABN Amro Investment Solutions now owns 997,028 shares of the technology company’s stock valued at $13,470,000 after purchasing an additional 483,700 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Infosys by 28.6% in the first quarter. PNC Financial Services Group Inc. now owns 128,035 shares of the technology company’s stock worth $1,730,000 after purchasing an additional 28,506 shares in the last quarter. Madison Asset Management LLC boosted its holdings in Infosys by 5.4% in the first quarter. Madison Asset Management LLC now owns 124,188 shares of the technology company’s stock worth $1,678,000 after purchasing an additional 6,358 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Infosys by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 7,789,344 shares of the technology company’s stock worth $105,206,000 after buying an additional 52,393 shares during the last quarter. 16.20% of the stock is owned by institutional investors.

Infosys Price Performance

NYSE INFY opened at $10.96 on Thursday. The firm has a market capitalization of $44.37 billion, a price-to-earnings ratio of 13.71, a P/E/G ratio of 1.46 and a beta of 0.90. The company’s fifty day moving average is $11.66 and its two-hundred day moving average is $13.78. Infosys Ltd. has a 52-week low of $10.34 and a 52-week high of $30.00.

Infosys (NYSE:INFY) last posted its quarterly earnings data on Wednesday, April 1st. The technology company reported $0.23 earnings per share (EPS) for the quarter. The company had revenue of $5.04 billion for the quarter. Infosys had a net margin of 16.44% and a return on equity of 32.64%. As a group, sell-side analysts expect that Infosys Ltd. will post 0.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on INFY shares. Susquehanna cut their target price on Infosys from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, July 10th. Wells Fargo & Company set a $11.00 price target on Infosys and gave the stock an “equal weight” rating in a research note on Friday, June 26th. BMO Capital Markets lowered their price objective on Infosys from $20.00 to $15.00 and set a “market perform” rating on the stock in a report on Friday, April 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Infosys in a research note on Monday, June 8th. Finally, TD Cowen cut their price objective on Infosys from $13.00 to $10.00 and set a “hold” rating on the stock in a research note on Thursday, July 9th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Infosys has an average rating of “Hold” and a consensus target price of $12.50.

Infosys 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. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.