Bessemer Group Inc. Grows Stock Holdings in Infosys Ltd. $INFY

Key Points

• Bessemer Group Inc. increased its stake in Infosys by 49.3% in the first quarter, adding 568,573 shares to bring its total holdings to 1.72 million shares valued at about $23.25 million.
• Other institutional investors also made moves in INFY, and overall 16.20% of the stock is owned by hedge funds and other institutions.
• Wall Street sentiment remains cautious, with Infosys carrying an average analyst rating of "Hold" and an average target price of $12.50, while the stock recently traded at $11.52.

Bessemer Group Inc. boosted its stake in shares of Infosys Ltd. (NYSE:INFY - Free Report) by 49.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,720,708 shares of the technology company's stock after buying an additional 568,573 shares during the quarter. Bessemer Group Inc.'s holdings in Infosys were worth $23,248,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in INFY. V Square Quantitative Management LLC acquired a new stake in shares of Infosys during the 1st quarter valued at approximately $97,000. Able Wealth Management LLC purchased a new stake in shares of Infosys during the 1st quarter worth approximately $163,000. Keybank National Association OH acquired a new stake in shares of Infosys in the 1st quarter worth approximately $205,000. Dynamic Technology Lab Private Ltd purchased a new position in Infosys in the 1st quarter valued at approximately $239,000. Finally, PFG Investments LLC increased its stake in Infosys by 19.3% in the 1st quarter. PFG Investments LLC now owns 21,396 shares of the technology company's stock valued at $289,000 after purchasing an additional 3,464 shares in the last quarter. 16.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INFY has been the topic of a number of research analyst reports. Stifel Nicolaus set a $13.00 target price on Infosys and gave the stock a "hold" rating in a research report on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of Infosys from $16.80 to $12.70 and set an "overweight" rating on the stock in a research report on Wednesday, June 24th. Wells Fargo & Company set a $11.00 price objective on shares of Infosys and gave the company an "equal weight" rating in a research note on Friday, June 26th. Weiss Ratings restated a "hold (c-)" rating on shares of Infosys in a report on Monday, June 8th. Finally, BMO Capital Markets cut their target price on shares of Infosys from $20.00 to $15.00 and set a "market perform" rating for the company in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $12.50.

Infosys Stock Performance

Infosys stock opened at $11.52 on Friday. Infosys Ltd. has a fifty-two week low of $10.34 and a fifty-two week high of $30.00. The company has a market capitalization of $46.60 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 1.51 and a beta of 0.90. The stock has a fifty day moving average of $11.71 and a two-hundred day moving average of $13.95.

Infosys (NYSE:INFY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 1st. The technology company reported $0.23 EPS for the quarter. The business had revenue of $5.04 billion for the quarter. Infosys had a return on equity of 32.64% and a net margin of 16.44%. On average, analysts forecast that Infosys Ltd. will post 0.82 EPS for the current fiscal year.

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.

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