The Manufacturers Life Insurance Company Purchases 30,708 Shares of Infosys Limited (NYSE:INFY)

The Manufacturers Life Insurance Company lifted its position in shares of Infosys Limited (NYSE:INFY - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 902,259 shares of the technology company's stock after purchasing an additional 30,708 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Infosys were worth $19,778,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Optiver Holding B.V. grew its position in shares of Infosys by 972.3% in the 4th quarter. Optiver Holding B.V. now owns 13,779 shares of the technology company's stock valued at $302,000 after purchasing an additional 12,494 shares during the period. Tudor Investment Corp ET AL increased its position in shares of Infosys by 1,978.7% during the 4th quarter. Tudor Investment Corp ET AL now owns 213,853 shares of the technology company's stock worth $4,688,000 after purchasing an additional 203,565 shares during the last quarter. Aquatic Capital Management LLC boosted its holdings in shares of Infosys by 4.2% in the 4th quarter. Aquatic Capital Management LLC now owns 523,091 shares of the technology company's stock valued at $11,466,000 after buying an additional 21,291 shares during the last quarter. Kovitz Investment Group Partners LLC increased its holdings in Infosys by 5.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 10,467 shares of the technology company's stock worth $229,000 after buying an additional 579 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its position in shares of Infosys by 27.6% in the 4th quarter. Integrated Wealth Concepts LLC now owns 14,738 shares of the technology company's stock valued at $323,000 after acquiring an additional 3,188 shares during the period. Institutional investors and hedge funds own 16.20% of the company's stock.

Wall Street Analysts Forecast Growth

INFY has been the topic of a number of recent analyst reports. The Goldman Sachs Group downgraded Infosys from a "buy" rating to a "neutral" rating and set a $17.90 price target on the stock. in a research report on Monday, April 21st. StockNews.com downgraded shares of Infosys from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. Guggenheim reiterated a "neutral" rating on shares of Infosys in a research report on Friday, January 17th. Stifel Nicolaus dropped their target price on shares of Infosys from $18.00 to $17.00 and set a "hold" rating for the company in a research report on Monday, April 21st. Finally, BMO Capital Markets lowered their price objective on shares of Infosys from $25.00 to $18.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $17.48.

Infosys Stock Performance

Shares of Infosys stock traded down $0.13 on Wednesday, hitting $17.65. The stock had a trading volume of 3,502,111 shares, compared to its average volume of 9,626,556. The stock has a 50 day moving average of $17.95 and a 200 day moving average of $20.64. Infosys Limited has a twelve month low of $15.82 and a twelve month high of $23.63. The firm has a market capitalization of $73.09 billion, a P/E ratio of 22.35, a PEG ratio of 3.50 and a beta of 0.98.

Infosys (NYSE:INFY - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $420.69 billion. Infosys had a net margin of 17.28% and a return on equity of 31.60%. During the same quarter last year, the firm earned $0.23 earnings per share. Equities analysts expect that Infosys Limited will post 0.74 earnings per share for the current year.

Infosys Company 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.