Allianz Asset Management AG reduced its stake in Infosys Ltd (NYSE:INFY) by 94.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 64,759 shares of the company’s stock after selling 1,043,802 shares during the period. Allianz Asset Management AG’s holdings in Infosys were worth $960,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in INFY. Comgest Global Investors S.A.S. increased its stake in shares of Infosys by 11.4% in the fourth quarter. Comgest Global Investors S.A.S. now owns 35,854,909 shares of the company’s stock valued at $531,728,000 after buying an additional 3,677,960 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Infosys by 19.0% in the third quarter. Nordea Investment Management AB now owns 22,531,592 shares of the company’s stock valued at $355,549,000 after buying an additional 3,595,433 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Infosys during the fourth quarter valued at about $49,484,000. Somerset Capital Management LLP acquired a new stake in shares of Infosys during the third quarter valued at about $42,966,000. Finally, Sustainable Growth Advisers LP acquired a new stake in shares of Infosys during the third quarter valued at about $26,226,000. 17.71% of the stock is owned by hedge funds and other institutional investors.
Shares of Infosys Ltd (NYSE:INFY) opened at 15.51 on Tuesday. The stock has a market capitalization of $35.45 billion, a P/E ratio of 16.64 and a beta of 0.90. Infosys Ltd has a 1-year low of $13.42 and a 1-year high of $20.47. The stock’s 50 day moving average price is $14.82 and its 200-day moving average price is $15.09.
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Several equities research analysts recently issued reports on INFY shares. Zacks Investment Research downgraded Infosys from a “hold” rating to a “sell” rating in a research note on Wednesday, January 11th. Bank of America Corp downgraded Infosys from a “buy” rating to a “neutral” rating in a research note on Thursday, December 1st. Goldman Sachs Group Inc started coverage on Infosys in a research note on Friday, March 3rd. They issued a “sell” rating for the company. Finally, CLSA downgraded Infosys from an “outperform” rating to an “underperform” rating in a research note on Friday, January 6th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $17.36.
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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