Infosys Limited (NYSE:INFY) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE boosted its position in Infosys Limited (NYSE:INFY - Free Report) by 43.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,225,396 shares of the technology company's stock after purchasing an additional 2,478,093 shares during the quarter. Bank of America Corp DE owned approximately 0.20% of Infosys worth $180,301,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of INFY. Sierra Ocean LLC bought a new position in shares of Infosys during the 4th quarter worth approximately $29,000. Brooklyn Investment Group acquired a new position in shares of Infosys during the fourth quarter worth $52,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Infosys during the 3rd quarter valued at $57,000. Farther Finance Advisors LLC boosted its position in shares of Infosys by 69.7% in the 4th quarter. Farther Finance Advisors LLC now owns 3,115 shares of the technology company's stock worth $68,000 after purchasing an additional 1,279 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Infosys by 14.2% during the 4th quarter. GAMMA Investing LLC now owns 4,496 shares of the technology company's stock worth $99,000 after buying an additional 560 shares during the last quarter. 16.20% of the stock is owned by hedge funds and other institutional investors.

Infosys Price Performance

INFY traded down $0.01 on Friday, reaching $17.48. 8,642,414 shares of the company's stock were exchanged, compared to its average volume of 9,646,104. The stock has a market cap of $72.40 billion, a PE ratio of 22.13, a P/E/G ratio of 3.50 and a beta of 0.98. Infosys Limited has a twelve month low of $15.82 and a twelve month high of $23.63. The stock's fifty day moving average price is $17.81 and its 200-day moving average price is $20.53.

Infosys (NYSE:INFY - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.01. Infosys had a return on equity of 31.60% and a net margin of 17.28%. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $420.69 billion. During the same period in the prior year, the business earned $0.23 earnings per share. As a group, research analysts predict that Infosys Limited will post 0.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Investec raised shares of Infosys from a "sell" rating to a "buy" rating in a report on Friday, April 18th. Guggenheim reaffirmed a "neutral" rating on shares of Infosys in a report on Friday, January 17th. BMO Capital Markets lowered their price target on Infosys from $25.00 to $18.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. StockNews.com cut shares of Infosys from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Finally, Stifel Nicolaus decreased their price target on shares of Infosys from $18.00 to $17.00 and set a "hold" rating on the stock in a research note on Monday, April 21st. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $17.48.

Infosys Profile

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.