Novem Group Makes New Investment in Infosys Limited (NYSE:INFY)

Novem Group purchased a new position in Infosys Limited (NYSE:INFY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 37,226 shares of the technology company's stock, valued at approximately $816,000.

Several other hedge funds have also added to or reduced their stakes in INFY. Focus Partners Advisor Solutions LLC bought a new stake in Infosys during the fourth quarter worth about $326,000. Waverly Advisors LLC increased its holdings in Infosys by 1.5% during the fourth quarter. Waverly Advisors LLC now owns 259,146 shares of the technology company's stock valued at $5,680,000 after buying an additional 3,896 shares during the last quarter. Woodline Partners LP purchased a new stake in Infosys during the fourth quarter valued at approximately $33,070,000. Vident Advisory LLC increased its stake in shares of Infosys by 50.5% in the fourth quarter. Vident Advisory LLC now owns 160,318 shares of the technology company's stock worth $3,514,000 after purchasing an additional 53,787 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of Infosys by 78.3% in the fourth quarter. Two Sigma Advisers LP now owns 193,300 shares of the technology company's stock worth $4,237,000 after purchasing an additional 84,900 shares in the last quarter. 16.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on INFY. Stifel Nicolaus dropped their price objective on shares of Infosys from $18.00 to $17.00 and set a "hold" rating for the company in a research note on Monday, April 21st. Susquehanna upgraded shares of Infosys from a "negative" rating to a "neutral" rating and set a $17.00 price objective for the company in a report on Monday, April 14th. BMO Capital Markets cut their target price on shares of Infosys from $25.00 to $18.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. CLSA raised shares of Infosys from a "hold" rating to an "outperform" rating in a research report on Friday, March 7th. Finally, Wall Street Zen raised shares of Infosys from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Six investment 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.com, the company has a consensus rating of "Moderate Buy" and an average price target of $17.48.

Infosys Stock Up 0.6%

Infosys stock traded up $0.10 during trading on Friday, reaching $18.14. The stock had a trading volume of 10,086,488 shares, compared to its average volume of 9,719,625. The stock has a market cap of $75.14 billion, a PE ratio of 22.96, a P/E/G ratio of 3.50 and a beta of 0.98. Infosys Limited has a 52-week low of $15.82 and a 52-week high of $23.63. The business has a 50 day moving average price of $17.67 and a 200 day moving average price of $20.34.

Infosys (NYSE:INFY - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The technology company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. Infosys had a net margin of 17.28% and a return on equity of 31.60%. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $420.69 billion. During the same quarter in the prior year, the firm earned $0.23 EPS. On average, equities analysts predict that Infosys Limited will post 0.74 EPS for the current fiscal year.

Infosys 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.