Mackenzie Financial Corp Buys 284,599 Shares of Infosys Limited (NYSE:INFY)

Mackenzie Financial Corp increased its holdings in Infosys Limited (NYSE:INFY - Free Report) by 159.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 463,502 shares of the technology company's stock after buying an additional 284,599 shares during the period. Mackenzie Financial Corp's holdings in Infosys were worth $10,160,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in INFY. Sierra Ocean LLC bought a new stake in shares of Infosys in the fourth quarter worth about $29,000. Farther Finance Advisors LLC grew its stake in shares of Infosys by 69.7% in the fourth 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 during the last quarter. Principal Securities Inc. grew its stake in shares of Infosys by 210.1% in the fourth 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 during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Infosys in the fourth quarter worth about $132,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Infosys by 15.9% in the fourth quarter. Jones Financial Companies Lllp now owns 7,520 shares of the technology company's stock worth $165,000 after purchasing an additional 1,030 shares during the last quarter. Hedge funds and other institutional investors own 16.20% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on INFY. Wall Street Zen raised Infosys from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. The Goldman Sachs Group cut Infosys from a "buy" rating to a "neutral" rating and set a $17.90 price objective on the stock. in a research report on Monday, April 21st. CLSA raised Infosys from a "hold" rating to an "outperform" rating in a research report on Friday, March 7th. Susquehanna raised Infosys from a "negative" rating to a "neutral" rating and set a $17.00 price objective on the stock in a research report on Monday, April 14th. Finally, Investec raised Infosys from a "sell" rating to a "buy" rating in a research report on Friday, April 18th. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $17.48.

Infosys Price Performance

NYSE INFY traded down $0.27 during mid-day trading on Friday, reaching $18.19. The stock had a trading volume of 12,638,259 shares, compared to its average volume of 9,683,999. Infosys Limited has a 1 year low of $15.82 and a 1 year high of $23.63. The stock has a market cap of $75.34 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 3.50 and a beta of 0.98. The company has a fifty day moving average price of $17.66 and a 200 day moving average price of $20.20.

Infosys (NYSE:INFY - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The technology company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. The company had revenue of $4.79 billion during 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 business earned $0.23 EPS. As a group, equities research analysts expect that Infosys Limited will post 0.74 earnings per share for the current 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.