Allspring Global Investments Holdings LLC Increases Holdings in Infosys Limited (NYSE:INFY)

Allspring Global Investments Holdings LLC boosted its position in shares of Infosys Limited (NYSE:INFY - Free Report) by 39.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,744,741 shares of the technology company's stock after acquiring an additional 491,350 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Infosys were worth $32,068,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its position in Infosys by 15.2% during the third quarter. FMR LLC now owns 24,819,637 shares of the technology company's stock valued at $424,664,000 after purchasing an additional 3,275,485 shares in the last quarter. State Street Corp lifted its position in shares of Infosys by 9.2% during the 1st quarter. State Street Corp now owns 20,400,397 shares of the technology company's stock valued at $355,709,000 after buying an additional 1,722,731 shares in the last quarter. BlackRock Inc. grew its stake in shares of Infosys by 11.8% during the 1st quarter. BlackRock Inc. now owns 17,115,250 shares of the technology company's stock valued at $298,490,000 after acquiring an additional 1,810,239 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Infosys in the 3rd quarter worth approximately $158,356,000. Finally, Vanguard Group Inc. raised its stake in Infosys by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 9,239,937 shares of the technology company's stock worth $229,982,000 after acquiring an additional 149,668 shares during the period. Institutional investors own 10.89% of the company's stock.

Analyst Ratings Changes

INFY has been the subject of a number of recent analyst reports. HSBC upgraded shares of Infosys from a "hold" rating to a "buy" rating in a research report on Monday, April 1st. BNP Paribas assumed coverage on Infosys in a report on Wednesday, January 17th. They set an "outperform" rating and a $24.00 price target on the stock. JPMorgan Chase & Co. raised Infosys from a "neutral" rating to an "overweight" rating in a research note on Wednesday, January 3rd. BMO Capital Markets increased their target price on Infosys from $18.00 to $21.00 and gave the stock a "market perform" rating in a research report on Friday, January 12th. Finally, StockNews.com downgraded Infosys from a "buy" rating to a "hold" rating in a research note on Tuesday, March 19th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Infosys presently has an average rating of "Moderate Buy" and a consensus price target of $20.76.

Infosys Price Performance

Shares of Infosys stock traded down $0.22 on Friday, reaching $17.72. The company had a trading volume of 17,657,863 shares, compared to its average volume of 10,740,678. The firm's 50-day moving average price is $19.14 and its two-hundred day moving average price is $18.35. Infosys Limited has a 1 year low of $14.71 and a 1 year high of $20.74. The firm has a market cap of $73.35 billion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 2.37 and a beta of 0.93.

Infosys (NYSE:INFY - Get Free Report) last posted its quarterly earnings data on Thursday, January 11th. The technology company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.01. Infosys had a net margin of 15.91% and a return on equity of 31.25%. The business had revenue of $4.66 billion for the quarter, compared to analysts' expectations of $4.58 billion. As a group, analysts anticipate that Infosys Limited will post 0.7 EPS for the current year.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.