Maple Brown Abbott Ltd Sells 1,199,707 Shares of Infosys Ltd (INFY)
Maple Brown Abbott Ltd lowered its position in Infosys Ltd (NYSE:INFY) by 53.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,025,072 shares of the technology company’s stock after selling 1,199,707 shares during the period. Infosys accounts for about 0.9% of Maple Brown Abbott Ltd’s holdings, making the stock its 18th biggest position. Maple Brown Abbott Ltd’s holdings in Infosys were worth $11,030,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Nkcfo LLC bought a new position in shares of Infosys in the fourth quarter valued at approximately $25,000. Next Capital Management LLC bought a new position in shares of Infosys in the first quarter valued at approximately $26,000. Financial Gravity Wealth Inc. bought a new position in shares of Infosys in the first quarter valued at approximately $27,000. We Are One Seven LLC bought a new position in shares of Infosys in the fourth quarter valued at approximately $28,000. Finally, Advisory Services Network LLC lifted its holdings in shares of Infosys by 303.8% in the fourth quarter. Advisory Services Network LLC now owns 4,228 shares of the technology company’s stock valued at $40,000 after purchasing an additional 3,181 shares in the last quarter. Institutional investors and hedge funds own 17.57% of the company’s stock.
Shares of INFY traded up $0.14 on Wednesday, reaching $10.35. 100,422 shares of the company’s stock traded hands, compared to its average volume of 12,584,060. The company has a market capitalization of $43.94 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 1.95 and a beta of 0.52. Infosys Ltd has a 52-week low of $8.62 and a 52-week high of $11.38.
A number of research analysts have recently weighed in on the company. Credit Suisse Group lowered Infosys from a “neutral” rating to an “underperform” rating in a report on Monday, April 15th. Investec lowered Infosys from a “buy” rating to a “hold” rating in a report on Monday, April 15th. Zacks Investment Research lowered Infosys from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. HSBC lowered Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, April 2nd. Finally, Morgan Stanley lowered Infosys from an “overweight” rating to an “equal weight” rating and set a $10.62 target price on the stock. in a report on Monday, April 15th. Two research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $11.26.
Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.
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