Daiwa Securities Group Inc. Grows Position in Infosys Limited (NYSE:INFY)

Daiwa Securities Group Inc. boosted its stake in shares of Infosys Limited (NYSE:INFY - Free Report) by 33.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,036,200 shares of the technology company's stock after purchasing an additional 513,900 shares during the period. Daiwa Securities Group Inc.'s holdings in Infosys were worth $37,426,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. grew its position in Infosys by 54.3% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 80,088 shares of the technology company's stock worth $1,486,000 after purchasing an additional 28,179 shares during the last quarter. Wealth Alliance lifted its stake in Infosys by 7.8% during the 4th quarter. Wealth Alliance now owns 34,926 shares of the technology company's stock valued at $642,000 after acquiring an additional 2,534 shares during the period. Mackenzie Financial Corp lifted its stake in Infosys by 299.8% during the 4th quarter. Mackenzie Financial Corp now owns 121,487 shares of the technology company's stock valued at $2,233,000 after acquiring an additional 91,101 shares during the period. Waldron Private Wealth LLC lifted its stake in Infosys by 22.3% during the 4th quarter. Waldron Private Wealth LLC now owns 16,122 shares of the technology company's stock valued at $296,000 after acquiring an additional 2,939 shares during the period. Finally, Outlook Wealth Advisors LLC acquired a new stake in Infosys during the 4th quarter valued at approximately $191,000. Hedge funds and other institutional investors own 10.89% of the company's stock.

Infosys Stock Performance

Shares of INFY traded down $0.11 during trading hours on Wednesday, hitting $16.94. The stock had a trading volume of 17,033,504 shares, compared to its average volume of 9,177,183. The firm has a 50-day moving average price of $19.01 and a 200 day moving average price of $18.36. Infosys Limited has a fifty-two week low of $14.71 and a fifty-two week high of $20.74. The firm has a market capitalization of $70.12 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 2.28 and a beta of 0.93.

Analyst Upgrades and Downgrades

INFY has been the subject of several research reports. Guggenheim initiated coverage on shares of Infosys in a research note on Tuesday, March 19th. They set a "neutral" rating and a $20.00 price objective for the company. Wedbush restated an "outperform" rating and set a $22.00 price objective on shares of Infosys in a research note on Wednesday, March 13th. BMO Capital Markets lifted their price objective on shares of Infosys from $18.00 to $21.00 and gave the company a "market perform" rating in a research note on Friday, January 12th. JPMorgan Chase & Co. upgraded shares of Infosys from a "neutral" rating to an "overweight" rating in a research note on Wednesday, January 3rd. Finally, StockNews.com cut shares of Infosys from a "buy" rating to a "hold" rating in a research note on Tuesday, March 19th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $20.76.

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.

Want to see what other hedge funds are holding INFY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Infosys Limited (NYSE:INFY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.