Fisher Asset Management LLC Has $281.20 Million Stake in Infosys Limited (NYSE:INFY)

Fisher Asset Management LLC lowered its stake in Infosys Limited (NYSE:INFY - Free Report) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,299,305 shares of the technology company's stock after selling 473,088 shares during the quarter. Fisher Asset Management LLC owned about 0.37% of Infosys worth $281,201,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. LGT Fund Management Co Ltd. purchased a new position in shares of Infosys during the fourth quarter valued at about $501,000. First Trust Direct Indexing L.P. increased its stake in Infosys by 11.6% in the 4th quarter. First Trust Direct Indexing L.P. now owns 92,604 shares of the technology company's stock worth $1,702,000 after acquiring an additional 9,642 shares during the last quarter. Van ECK Associates Corp increased its stake in Infosys by 33.8% in the 4th quarter. Van ECK Associates Corp now owns 266,245 shares of the technology company's stock worth $4,894,000 after acquiring an additional 67,242 shares during the last quarter. Naviter Wealth LLC raised its holdings in shares of Infosys by 15.5% during the 4th quarter. Naviter Wealth LLC now owns 66,752 shares of the technology company's stock worth $1,227,000 after acquiring an additional 8,973 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of Infosys by 1.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 4,762,663 shares of the technology company's stock valued at $87,538,000 after purchasing an additional 53,155 shares in the last quarter. 10.89% of the stock is currently owned by institutional investors.

Infosys Price Performance

Shares of NYSE:INFY traded up $0.06 during trading on Friday, reaching $16.93. The company had a trading volume of 4,035,223 shares, compared to its average volume of 9,586,699. The stock's fifty day moving average price is $18.23 and its 200 day moving average price is $18.31. Infosys Limited has a fifty-two week low of $14.98 and a fifty-two week high of $20.74. The firm has a market capitalization of $70.08 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 2.24 and a beta of 0.95.

Infosys (NYSE:INFY - Get Free Report) last released its earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $4.49 billion. Infosys had a return on equity of 32.33% and a net margin of 17.06%. During the same quarter in the previous year, the firm posted $0.18 EPS. On average, equities analysts anticipate that Infosys Limited will post 0.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on INFY shares. StockNews.com cut shares of Infosys from a "buy" rating to a "hold" rating in a research note on Tuesday, March 19th. Bank of America upgraded Infosys from a "neutral" rating to a "buy" rating in a report on Tuesday, April 9th. Wedbush reiterated an "outperform" rating and set a $22.00 price objective on shares of Infosys in a research note on Wednesday, March 13th. Susquehanna dropped their target price on Infosys from $15.00 to $14.00 and set a "negative" rating on the stock in a research report on Friday, April 19th. Finally, Guggenheim assumed coverage on Infosys in a research report on Tuesday, March 19th. They issued a "neutral" rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $19.27.

About Infosys

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides digital marketing and digital workplace, digital commerce, digital experience and interactions, metaverse, data analytics and AI, applied AI, generative AI, sustainability, blockchain, engineering, Internet of Things, enterprise agile DevOps, application modernization, cloud, digital process automation, digital supply chain, Microsoft business application and cloud business, service experience transformation, energy transition, cyber security, and quality engineering solutions; Oracle, SAP, and Saleforce solutions; API economy and microservices; and Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies.