Crossmark Global Holdings Inc. Sells 46,042 Shares of Infosys Ltd. $INFY

Crossmark Global Holdings Inc. trimmed its position in Infosys Ltd. (NYSE:INFY) by 4.6% during the third quarter, Holdings Channel reports. The firm owned 958,852 shares of the technology company’s stock after selling 46,042 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Infosys were worth $10,317,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Pinnacle Associates Ltd. bought a new position in Infosys during the third quarter worth about $369,000. Nisa Investment Advisors LLC raised its stake in Infosys by 87.1% in the third quarter. Nisa Investment Advisors LLC now owns 3,683 shares of the technology company’s stock valued at $40,000 after buying an additional 1,715 shares during the period. Frank Rimerman Advisors LLC raised its stake in Infosys by 2.8% in the third quarter. Frank Rimerman Advisors LLC now owns 155,698 shares of the technology company’s stock valued at $1,675,000 after buying an additional 4,174 shares during the period. Vontobel Holding Ltd. raised its stake in Infosys by 61.5% in the third quarter. Vontobel Holding Ltd. now owns 43,737 shares of the technology company’s stock valued at $471,000 after buying an additional 16,657 shares during the period. Finally, Banque Pictet & Cie SA raised its stake in Infosys by 21.6% in the third quarter. Banque Pictet & Cie SA now owns 208,804 shares of the technology company’s stock valued at $2,247,000 after buying an additional 37,059 shares during the period. 16.20% of the stock is currently owned by institutional investors and hedge funds.

Infosys Stock Performance

Shares of INFY opened at $13.24 on Friday. Infosys Ltd. has a 52 week low of $10.12 and a 52 week high of $30.00. The firm has a market cap of $53.61 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 2.97 and a beta of 0.88. The firm’s 50-day simple moving average is $11.45 and its 200 day simple moving average is $11.93.

Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). The company had revenue of $4.99 billion during the quarter, compared to the consensus estimate of $5.08 billion. Infosys had a net margin of 16.38% and a return on equity of 33.91%. As a group, equities analysts forecast that Infosys Ltd. will post 0.81 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $10.90 price objective (down from $12.70) on shares of Infosys in a research report on Friday, July 24th. CLSA lowered Infosys from an “outperform” rating to a “hold” rating in a report on Wednesday, August 19th. Wells Fargo & Company set a $11.00 price target on Infosys and gave the company an “equal weight” rating in a research note on Friday, June 26th. Jefferies Financial Group reaffirmed a “hold” rating and set a $14.31 price target (down from $20.82) on shares of Infosys in a report on Monday, August 31st. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $12.00 price target (down from $13.00) on shares of Infosys in a report on Friday, July 24th. Ten analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $11.45.

About Infosys

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.