Infosys Limited (NYSE:INFY) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its holdings in Infosys Limited (NYSE:INFY) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,762,663 shares of the technology company’s stock after purchasing an additional 53,155 shares during the period. State of New Jersey Common Pension Fund D owned about 0.12% of Infosys worth $87,538,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in INFY. Canada Pension Plan Investment Board bought a new stake in Infosys in the 3rd quarter valued at $158,356,000. Aikya Investment Management Ltd bought a new stake in Infosys during the 4th quarter worth about $71,409,000. FMR LLC grew its holdings in Infosys by 15.2% during the 3rd quarter. FMR LLC now owns 24,819,637 shares of the technology company’s stock worth $424,664,000 after acquiring an additional 3,275,485 shares during the last quarter. Value Partners Investments Inc. boosted its stake in shares of Infosys by 857.8% in 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 purchasing an additional 2,419,000 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Infosys by 33.9% in 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 period. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Trading Down 0.4 %

NYSE INFY traded down $0.06 during trading hours on Friday, reaching $16.95. The company had a trading volume of 8,844,959 shares, compared to its average volume of 9,703,239. The stock has a market capitalization of $70.16 billion, a P/E ratio of 22.38, a price-to-earnings-growth ratio of 2.28 and a beta of 0.93. Infosys Limited has a 1-year low of $14.98 and a 1-year high of $20.74. The stock has a 50-day moving average of $18.56 and a 200 day moving average of $18.33.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. The company had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.49 billion. Infosys had a net margin of 17.06% and a return on equity of 32.33%. During the same period in the prior year, the firm posted $0.18 earnings per share. As a group, sell-side analysts predict that Infosys Limited will post 0.75 EPS for the current year.

Wall Street Analysts Forecast Growth

INFY has been the subject of a number of research analyst reports. UBS Group raised shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 3rd. HSBC restated a “hold” rating and set a $20.10 price target on shares of Infosys in a report on Friday, April 19th. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Susquehanna reduced their target price on Infosys from $15.00 to $14.00 and set a “negative” rating on the stock in a report on Friday, April 19th. Finally, Bank of America upgraded Infosys from a “neutral” rating to a “buy” rating in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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 application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.