Handelsbanken Fonder AB Acquires 41,592 Shares of Infosys Limited (NYSE:INFY)

Handelsbanken Fonder AB boosted its holdings in Infosys Limited (NYSE:INFY - Free Report) by 46.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,592 shares of the technology company's stock after purchasing an additional 41,592 shares during the quarter. Handelsbanken Fonder AB's holdings in Infosys were worth $2,402,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sierra Ocean LLC acquired a new stake in Infosys in the 4th quarter worth about $29,000. Farther Finance Advisors LLC raised its stake in 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. Principal Securities Inc. raised its stake in Infosys by 210.1% in the 4th quarter. Principal Securities Inc. now owns 4,822 shares of the technology company's stock worth $106,000 after purchasing an additional 3,267 shares in the last quarter. Fairtree Asset Management Pty Ltd acquired a new stake in Infosys in the 4th quarter worth about $130,000. Finally, GAMMA Investing LLC raised its stake in Infosys by 32.4% in the 1st quarter. GAMMA Investing LLC now owns 5,951 shares of the technology company's stock worth $109,000 after purchasing an additional 1,455 shares in the last quarter. Institutional investors and hedge funds own 16.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. CLSA raised shares of Infosys from a "hold" rating to an "outperform" rating in a report on Friday, March 7th. Susquehanna raised shares of Infosys from a "negative" rating to a "neutral" rating and set a $17.00 target price on the stock in a report on Monday, April 14th. Wall Street Zen raised shares of Infosys from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Stifel Nicolaus decreased their target price on shares of Infosys from $18.00 to $17.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Finally, BMO Capital Markets decreased their target price on shares of Infosys from $25.00 to $18.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.48.

Infosys Stock Performance

Shares of Infosys stock traded down $0.13 during midday trading on Friday, hitting $18.43. 10,471,845 shares of the company traded hands, compared to its average volume of 9,753,428. The stock has a market cap of $76.38 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 3.50 and a beta of 0.98. The firm's fifty day moving average price is $17.76 and its 200-day moving average price is $19.96. Infosys Limited has a 12 month low of $15.82 and a 12 month high of $23.63.

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

Infosys Company 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.