Novem Group acquired a new stake in Infosys Limited (NYSE:INFY - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 37,226 shares of the technology company's stock, valued at approximately $816,000.
Other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in shares of Infosys by 270.9% during the fourth quarter. AQR Capital Management LLC now owns 9,164,085 shares of the technology company's stock worth $200,877,000 after purchasing an additional 6,693,127 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Infosys by 118.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,912,259 shares of the technology company's stock valued at $173,437,000 after acquiring an additional 4,296,291 shares during the last quarter. First Trust Advisors LP boosted its holdings in Infosys by 14.5% during the fourth quarter. First Trust Advisors LP now owns 32,410,108 shares of the technology company's stock valued at $710,430,000 after acquiring an additional 4,108,903 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its position in Infosys by 1,668.3% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,228,211 shares of the technology company's stock worth $75,470,000 after buying an additional 3,045,656 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Infosys by 43.1% in the 4th quarter. Bank of America Corp DE now owns 8,225,396 shares of the technology company's stock valued at $180,301,000 after buying an additional 2,478,093 shares in the last quarter. 16.20% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on INFY shares. BMO Capital Markets reduced their price objective on Infosys from $25.00 to $18.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. Susquehanna upgraded shares of Infosys from a "negative" rating to a "neutral" rating and set a $17.00 price target for the company in a research report on Monday, April 14th. CLSA raised Infosys from a "hold" rating to an "outperform" rating in a report on Friday, March 7th. The Goldman Sachs Group downgraded Infosys from a "buy" rating to a "neutral" rating and set a $17.90 target price on the stock. in a report on Monday, April 21st. Finally, Investec upgraded shares of Infosys from a "sell" rating to a "buy" rating in a research report on Friday, April 18th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Infosys presently has an average rating of "Moderate Buy" and an average target price of $17.48.
Check Out Our Latest Stock Analysis on Infosys
Infosys Price Performance
NYSE INFY traded up $0.29 during mid-day trading on Tuesday, reaching $18.40. The stock had a trading volume of 2,044,597 shares, compared to its average volume of 9,689,537. 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 $76.19 billion, a PE ratio of 23.28, 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 $20.30.
Infosys (NYSE:INFY - Get Free Report) last released 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 firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $420.69 billion. Infosys had a return on equity of 31.60% and a net margin of 17.28%. During the same quarter in the prior year, the company posted $0.23 earnings per share. As a group, equities research analysts expect that Infosys Limited will post 0.74 earnings per share for the current year.
Infosys Company Profile
(
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.
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