Man Group plc Buys 428,659 Shares of Infosys Limited (NYSE:INFY)

Man Group plc lifted its position in shares of Infosys Limited (NYSE:INFY - Free Report) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,143,860 shares of the technology company's stock after purchasing an additional 428,659 shares during the period. Man Group plc owned 0.12% of Infosys worth $112,753,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in INFY. BHK Investment Advisors LLC grew its position in Infosys by 2.3% during the fourth quarter. BHK Investment Advisors LLC now owns 22,785 shares of the technology company's stock worth $499,000 after buying an additional 507 shares in the last quarter. Outlook Wealth Advisors LLC grew its position in Infosys by 2.8% during the 4th quarter. Outlook Wealth Advisors LLC now owns 18,405 shares of the technology company's stock worth $403,000 after acquiring an additional 508 shares during the last quarter. Kovitz Investment Group Partners LLC increased its holdings in Infosys by 5.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 10,467 shares of the technology company's stock worth $229,000 after purchasing an additional 579 shares in the last quarter. Flagship Harbor Advisors LLC raised its position in Infosys by 6.2% in the fourth quarter. Flagship Harbor Advisors LLC now owns 11,026 shares of the technology company's stock valued at $242,000 after purchasing an additional 641 shares during the last quarter. Finally, Atomi Financial Group Inc. boosted its stake in shares of Infosys by 1.7% during the fourth quarter. Atomi Financial Group Inc. now owns 38,263 shares of the technology company's stock valued at $839,000 after purchasing an additional 655 shares in the last quarter. 16.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Susquehanna upgraded shares of Infosys from a "negative" rating to a "neutral" rating and set a $17.00 target price on the stock in a research report on Monday, April 14th. StockNews.com upgraded shares of Infosys from a "hold" rating to a "buy" rating in a report on Friday. Investec raised Infosys from a "sell" rating to a "buy" rating in a research report on Friday, April 18th. The Goldman Sachs Group lowered Infosys from a "buy" rating to a "neutral" rating and set a $17.90 price target on the stock. in a research report on Monday, April 21st. Finally, CLSA upgraded Infosys from a "hold" rating to an "outperform" rating in a report on Friday, March 7th. Six investment 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 stock. According to MarketBeat, Infosys presently has an average rating of "Moderate Buy" and a consensus target price of $17.48.

Infosys Stock Up 0.3%

NYSE:INFY traded up $0.06 during trading hours on Monday, reaching $18.37. The company had a trading volume of 4,708,286 shares, compared to its average volume of 9,692,522. Infosys Limited has a twelve month low of $15.82 and a twelve month high of $23.63. The firm has a market cap of $76.07 billion, a price-to-earnings ratio of 23.25, a P/E/G ratio of 3.50 and a beta of 0.98. The business's 50-day simple moving average is $17.70 and its two-hundred day simple moving average is $20.43.

Infosys (NYSE:INFY - Get Free Report) last posted its quarterly earnings results 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. Infosys had a return on equity of 31.60% and a net margin of 17.28%. The business had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $420.69 billion. During the same period in the prior year, the business earned $0.23 EPS. As a group, equities analysts predict that Infosys Limited will post 0.74 earnings per share for the current 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.