Raymond James Financial Inc. Purchases New Holdings in Infosys Limited (NYSE:INFY)

Raymond James Financial Inc. acquired a new position in shares of Infosys Limited (NYSE:INFY - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 58,677 shares of the technology company's stock, valued at approximately $1,286,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Barclays PLC lifted its stake in shares of Infosys by 11.8% during the 3rd quarter. Barclays PLC now owns 2,523,605 shares of the technology company's stock worth $56,200,000 after acquiring an additional 266,902 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Infosys in the 3rd quarter worth approximately $57,000. Tidal Investments LLC lifted its holdings in shares of Infosys by 31.6% during the third quarter. Tidal Investments LLC now owns 42,315 shares of the technology company's stock worth $942,000 after purchasing an additional 10,149 shares during the period. Franklin Resources Inc. boosted its holdings in Infosys by 2.9% in the third quarter. Franklin Resources Inc. now owns 11,272,051 shares of the technology company's stock valued at $263,315,000 after purchasing an additional 322,648 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Infosys by 14.2% in the fourth quarter. GAMMA Investing LLC now owns 4,496 shares of the technology company's stock valued at $99,000 after acquiring an additional 560 shares during the period. 16.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Guggenheim restated a "neutral" rating on shares of Infosys in a research report on Friday, January 17th. Stifel Nicolaus cut their price objective on Infosys from $18.00 to $17.00 and set a "hold" rating for the company in a research report on Monday, April 21st. The Goldman Sachs Group lowered Infosys from a "buy" rating to a "neutral" rating and set a $17.90 target price on the stock. in a research report on Monday, April 21st. CLSA raised shares of Infosys from a "hold" rating to an "outperform" rating in a report on Friday, March 7th. Finally, StockNews.com downgraded shares of Infosys from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $17.48.

Infosys Price Performance

Shares of INFY traded down $0.08 during midday trading on Wednesday, reaching $17.70. The stock had a trading volume of 5,478,951 shares, compared to its average volume of 9,633,607. The company has a market cap of $73.29 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 3.50 and a beta of 0.98. The company's fifty day simple moving average is $17.95 and its two-hundred day simple moving average is $20.64. Infosys Limited has a 1-year low of $15.82 and a 1-year high of $23.63.

Infosys (NYSE:INFY - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The technology company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. Infosys had a net margin of 17.28% and a return on equity of 31.60%. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $420.69 billion. During the same period in the prior year, the firm posted $0.23 earnings per share. On average, sell-side analysts forecast 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.