ABS Direct Equity Fund LLC Takes $2.08 Million Position in Infosys Limited (NYSE:INFY)

ABS Direct Equity Fund LLC bought a new stake 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. The fund bought 113,367 shares of the technology company's stock, valued at approximately $2,084,000. Infosys comprises 2.0% of ABS Direct Equity Fund LLC's investment portfolio, making the stock its 18th largest position.

Several other institutional investors and hedge funds have also made changes to their positions in INFY. Canada Pension Plan Investment Board purchased a new stake in shares of Infosys in the 3rd quarter valued at about $158,356,000. Aikya Investment Management Ltd purchased a new stake in Infosys during the 4th quarter valued at approximately $71,409,000. FMR LLC raised its stake in Infosys by 15.2% during the 3rd quarter. FMR LLC now owns 24,819,637 shares of the technology company's stock valued at $424,664,000 after acquiring an additional 3,275,485 shares during the last quarter. Value Partners Investments Inc. raised its stake in Infosys by 857.8% during the 3rd quarter. Value Partners Investments Inc. now owns 2,701,000 shares of the technology company's stock valued at $46,214,000 after acquiring an additional 2,419,000 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Infosys by 33.9% during the 3rd quarter. American Century Companies Inc. now owns 3,687,017 shares of the technology company's stock valued at $63,085,000 after acquiring an additional 932,570 shares during the last quarter. 10.89% of the stock is owned by hedge funds and other institutional investors.

Infosys Stock Up 0.4 %

Shares of INFY traded up $0.06 on Friday, reaching $16.93. The stock had a trading volume of 4,035,491 shares, compared to its average volume of 12,675,121. The firm has a market capitalization of $70.08 billion, a PE ratio of 22.28, a PEG ratio of 2.26 and a beta of 0.95. The firm has a 50-day moving average of $18.16 and a 200 day moving average of $18.32. Infosys Limited has a twelve month low of $14.98 and a twelve month high of $20.74.

Infosys (NYSE:INFY - Get Free Report) last released its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. The business 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 prior year, the firm posted $0.18 EPS. On average, sell-side analysts anticipate that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Wedbush reaffirmed an "outperform" rating and set a $22.00 price objective on shares of Infosys in a research note on Wednesday, March 13th. Guggenheim initiated coverage on Infosys in a research report on Tuesday, March 19th. They set a "neutral" rating and a $20.00 target price on the stock. BNP Paribas initiated coverage on Infosys in a research report on Wednesday, January 17th. They set an "outperform" rating and a $24.00 target price on the stock. Bank of America upgraded Infosys from a "neutral" rating to a "buy" rating in a research report on Tuesday, April 9th. Finally, HSBC reiterated a "hold" rating and set a $20.10 target price on shares of Infosys in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $19.27.

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 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.