Infosys Limited (NYSE:INFY) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its holdings in shares of Infosys Limited (NYSE:INFY) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,505,425 shares of the technology company’s stock after selling 14,583 shares during the period. BNP Paribas Financial Markets’ holdings in Infosys were worth $46,050,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Infosys by 2.3% during the third quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock worth $139,327,000 after acquiring an additional 180,888 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of Infosys during the 3rd quarter worth approximately $5,047,000. Baillie Gifford & Co. lifted its holdings in shares of Infosys by 3.3% in the 4th quarter. Baillie Gifford & Co. now owns 3,190,513 shares of the technology company’s stock worth $58,642,000 after purchasing an additional 102,273 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Infosys by 39.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,744,741 shares of the technology company’s stock valued at $32,068,000 after purchasing an additional 491,350 shares during the period. Finally, Rhumbline Advisers grew its stake in Infosys by 3.0% during the 3rd quarter. Rhumbline Advisers now owns 908,911 shares of the technology company’s stock worth $15,551,000 after buying an additional 26,833 shares during the last quarter. 10.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on INFY. Susquehanna reduced their price target on shares of Infosys from $15.00 to $14.00 and set a “negative” rating for the company in a report on Friday, April 19th. BNP Paribas assumed coverage on Infosys in a research report on Wednesday, January 17th. They set an “outperform” rating and a $24.00 price target for the company. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Wedbush reiterated an “outperform” rating and set a $22.00 price objective on shares of Infosys in a research note on Wednesday, March 13th. Finally, HSBC restated a “hold” rating and issued a $20.10 target price on shares of Infosys in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $19.27.

Infosys Trading Down 0.6 %

INFY stock traded down $0.10 during midday trading on Friday, reaching $16.87. The company had a trading volume of 10,340,938 shares, compared to its average volume of 11,727,196. Infosys Limited has a 1 year low of $14.98 and a 1 year high of $20.74. The company has a 50 day moving average of $17.87 and a two-hundred day moving average of $18.31. The company has a market capitalization of $69.83 billion, a P/E ratio of 22.20, a PEG ratio of 2.26 and a beta of 0.95.

Infosys (NYSE:INFY) last released its quarterly earnings data on Thursday, April 18th. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.49 billion. Infosys had a return on equity of 32.33% and a net margin of 17.06%. During the same quarter in the prior year, the company posted $0.18 earnings per share. On average, sell-side analysts anticipate that Infosys Limited will post 0.75 earnings per share for the current year.

About Infosys

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.