Bank of America Corp DE raised its holdings in Infosys Ltd. (NYSE:INFY - Free Report) by 7.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,790,666 shares of the technology company's stock after buying an additional 469,843 shares during the quarter. Bank of America Corp DE owned about 0.17% of Infosys worth $91,742,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of INFY. Boston Common Asset Management LLC raised its position in shares of Infosys by 1.1% in the 1st quarter. Boston Common Asset Management LLC now owns 208,639 shares of the technology company's stock valued at $2,819,000 after purchasing an additional 2,300 shares during the last quarter. Cetera Investment Advisers boosted its stake in Infosys by 3.9% in the 1st quarter. Cetera Investment Advisers now owns 88,825 shares of the technology company's stock worth $1,200,000 after purchasing an additional 3,308 shares in the last quarter. Laidlaw Wealth Management LLC grew its position in Infosys by 30.8% during the 1st quarter. Laidlaw Wealth Management LLC now owns 14,650 shares of the technology company's stock worth $198,000 after purchasing an additional 3,450 shares during the last quarter. PFG Investments LLC grew its position in Infosys by 19.3% during the 1st quarter. PFG Investments LLC now owns 21,396 shares of the technology company's stock worth $289,000 after purchasing an additional 3,464 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Infosys by 6.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,155 shares of the technology company's stock valued at $1,153,000 after purchasing an additional 3,804 shares in the last quarter. Hedge funds and other institutional investors own 16.20% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Weiss Ratings cut shares of Infosys from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, July 28th. BMO Capital Markets reissued a "market perform" rating and set a $12.00 price objective (down from $13.00) on shares of Infosys in a report on Friday, July 24th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $10.90 target price (down from $12.70) on shares of Infosys in a research report on Friday, July 24th. Stifel Nicolaus set a $13.00 target price on Infosys and gave the stock a "hold" rating in a research note on Thursday, July 16th. Finally, TD Cowen reaffirmed a "hold" rating and set a $9.00 price target (down from $10.00) on shares of Infosys in a research report on Friday, July 24th. Eight investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $11.63.
View Our Latest Stock Analysis on INFY
Infosys Stock Up 1.3%
INFY stock opened at $12.53 on Friday. The company's 50-day simple moving average is $11.56 and its 200-day simple moving average is $13.29. Infosys Ltd. has a 52-week low of $10.30 and a 52-week high of $30.00. The firm has a market cap of $50.69 billion, a P/E ratio of 15.46, a PEG ratio of 2.92 and a beta of 0.88.
Infosys (NYSE:INFY - Get Free Report) last announced 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). Infosys had a net margin of 16.38% and a return on equity of 33.91%. The business had revenue of $4.99 billion during the quarter, compared to analysts' expectations of $5.08 billion. On average, analysts anticipate that Infosys Ltd. will post 0.81 earnings per share for the current fiscal year.
About Infosys
(
Free Report)
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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