Neuberger Berman Group LLC Sells 344,669 Shares of Infosys Limited (NYSE:INFY)

Neuberger Berman Group LLC decreased its position in shares of Infosys Limited (NYSE:INFY) by 51.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 319,941 shares of the technology company’s stock after selling 344,669 shares during the quarter. Neuberger Berman Group LLC’s holdings in Infosys were worth $5,881,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Services Advisors Inc. lifted its stake in Infosys by 6.6% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 28,479 shares of the technology company’s stock valued at $487,000 after buying an additional 1,752 shares in the last quarter. M&T Bank Corp bought a new position in Infosys in the third quarter valued at approximately $501,000. Ieq Capital LLC bought a new position in Infosys in the third quarter valued at approximately $189,000. HBK Sorce Advisory LLC lifted its stake in Infosys by 30.0% in the third quarter. HBK Sorce Advisory LLC now owns 15,643 shares of the technology company’s stock valued at $268,000 after buying an additional 3,609 shares in the last quarter. Finally, Schechter Investment Advisors LLC lifted its stake in Infosys by 34.2% in the third quarter. Schechter Investment Advisors LLC now owns 21,322 shares of the technology company’s stock valued at $365,000 after buying an additional 5,437 shares in the last quarter. Institutional investors own 10.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on INFY shares. Bank of America raised shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. BMO Capital Markets cut their price objective on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, April 19th. Guggenheim started coverage on shares of Infosys in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 price objective on the stock. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, HSBC reissued a “hold” rating and issued a $20.10 price objective on shares of Infosys in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Infosys has an average rating of “Hold” and a consensus price target of $19.27.

Infosys Stock Performance

INFY traded down $0.04 during trading on Friday, reaching $17.36. 9,240,966 shares of the stock were exchanged, compared to its average volume of 7,873,974. The stock has a market cap of $71.87 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 3.20 and a beta of 0.95. Infosys Limited has a twelve month low of $15.11 and a twelve month high of $20.74. The stock’s 50 day moving average price is $17.42 and its two-hundred day moving average price is $18.36.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The company had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.49 billion. Infosys had a net margin of 17.06% and a return on equity of 32.33%. During the same period in the prior year, the firm earned $0.18 earnings per share. Equities research analysts predict that Infosys Limited will post 0.75 earnings per share for the current fiscal 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.