Standard Life Aberdeen plc lowered its stake in Infosys Ltd (NYSE:INFY) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 874,143 shares of the technology company’s stock after selling 11,732 shares during the period. Standard Life Aberdeen plc’s holdings in Infosys were worth $14,179,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Sompo Japan Nipponkoa Asset Management CO. LTD. acquired a new position in shares of Infosys in the third quarter valued at approximately $293,000. Yacktman Asset Management LP increased its holdings in shares of Infosys by 56.8% in the third quarter. Yacktman Asset Management LP now owns 6,031,017 shares of the technology company’s stock valued at $87,993,000 after purchasing an additional 2,184,646 shares during the period. Oldfield Partners LLP increased its holdings in shares of Infosys by 5.6% in the third quarter. Oldfield Partners LLP now owns 3,107,302 shares of the technology company’s stock valued at $45,336,000 after purchasing an additional 165,800 shares during the period. Forward Management LLC grew its holdings in Infosys by 49.9% during the third quarter. Forward Management LLC now owns 311,381 shares of the technology company’s stock worth $4,544,000 after acquiring an additional 103,658 shares during the period. Finally, Maple Brown Abbott Ltd grew its holdings in Infosys by 71.2% during the fourth quarter. Maple Brown Abbott Ltd now owns 4,103,548 shares of the technology company’s stock worth $66,560,000 after acquiring an additional 1,706,482 shares during the period. 20.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of Infosys Ltd (NYSE:INFY) opened at $17.67 on Thursday. Infosys Ltd has a 12-month low of $13.88 and a 12-month high of $18.71. The stock has a market capitalization of $38,073.47, a price-to-earnings ratio of 16.35, a PEG ratio of 1.93 and a beta of 0.57.
A number of research analysts recently weighed in on INFY shares. Bank of America raised Infosys from a “neutral” rating to a “buy” rating in a report on Tuesday, December 5th. BidaskClub lowered Infosys from a “sell” rating to a “strong sell” rating in a report on Saturday, November 4th. Morgan Stanley raised Infosys from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 16th. Goldman Sachs Group raised Infosys from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Finally, Zacks Investment Research raised Infosys from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Tuesday, December 26th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Infosys currently has an average rating of “Hold” and a consensus target price of $15.77.
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.
Want to see what other hedge funds are holding INFY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Infosys Ltd (NYSE:INFY).
Receive News & Ratings for Infosys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infosys and related companies with MarketBeat.com's FREE daily email newsletter.