Wahed Invest LLC Acquires Shares of 54,651 Infosys Limited (NYSE:INFY)

Wahed Invest LLC bought a new position in Infosys Limited (NYSE:INFY - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 54,651 shares of the technology company's stock, valued at approximately $1,198,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BHK Investment Advisors LLC boosted its holdings in Infosys by 2.3% in the fourth quarter. BHK Investment Advisors LLC now owns 22,785 shares of the technology company's stock worth $499,000 after acquiring an additional 507 shares in the last quarter. Outlook Wealth Advisors LLC raised its position in shares of Infosys by 2.8% in the 4th quarter. Outlook Wealth Advisors LLC now owns 18,405 shares of the technology company's stock worth $403,000 after purchasing an additional 508 shares during the last quarter. GAMMA Investing LLC boosted its stake in Infosys by 14.2% in the 4th quarter. GAMMA Investing LLC now owns 4,496 shares of the technology company's stock worth $99,000 after purchasing an additional 560 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its stake in Infosys by 5.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 10,467 shares of the technology company's stock worth $229,000 after purchasing an additional 579 shares in the last quarter. Finally, Flagship Harbor Advisors LLC grew its position in Infosys by 6.2% during the 4th quarter. Flagship Harbor Advisors LLC now owns 11,026 shares of the technology company's stock valued at $242,000 after purchasing an additional 641 shares during the last quarter. 16.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on INFY shares. Guggenheim reissued a "neutral" rating on shares of Infosys in a research report on Friday, January 17th. CLSA upgraded Infosys from a "hold" rating to an "outperform" rating in a research note on Friday, March 7th. Investec upgraded Infosys from a "sell" rating to a "buy" rating in a research note on Friday, April 18th. Stifel Nicolaus lowered their price target on Infosys from $18.00 to $17.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Finally, Susquehanna upgraded Infosys from a "negative" rating to a "neutral" rating and set a $17.00 price objective for the company in a report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Infosys has an average rating of "Moderate Buy" and an average price target of $17.48.

Infosys Stock Up 0.1 %

Infosys stock opened at $17.62 on Friday. Infosys Limited has a 52-week low of $15.82 and a 52-week high of $23.63. The company has a market cap of $72.96 billion, a P/E ratio of 22.30, a P/E/G ratio of 3.50 and a beta of 0.97. The business has a 50-day simple moving average of $18.12 and a two-hundred day simple moving average of $20.76.

Infosys (NYSE:INFY - Get Free Report) last announced its 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. Infosys had a net margin of 17.28% and a return on equity of 31.60%. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $420.69 billion. During the same period in the previous year, the business posted $0.23 earnings per share. Research analysts anticipate that Infosys Limited will post 0.74 EPS for the current fiscal year.

About Infosys

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.

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.