NewEdge Advisors LLC Increases Stake in Infosys Limited (NYSE:INFY)

NewEdge Advisors LLC raised its stake in Infosys Limited (NYSE:INFY) by 1,288.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 30,552 shares of the technology company’s stock after purchasing an additional 28,351 shares during the quarter. NewEdge Advisors LLC’s holdings in Infosys were worth $670,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Sierra Ocean LLC bought a new position in Infosys during the 4th quarter valued at approximately $29,000. Brooklyn Investment Group purchased a new stake in Infosys in the fourth quarter worth $52,000. Wilmington Savings Fund Society FSB bought a new stake in Infosys in the third quarter valued at $57,000. Farther Finance Advisors LLC increased its position in Infosys by 69.7% during the 4th quarter. Farther Finance Advisors LLC now owns 3,115 shares of the technology company’s stock valued at $68,000 after purchasing an additional 1,279 shares during the period. Finally, GAMMA Investing LLC raised its holdings 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. Hedge funds and other institutional investors own 16.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets cut their target price on shares of Infosys from $25.00 to $18.00 and set a “market perform” rating on the stock in a research note on Monday, April 21st. Susquehanna upgraded Infosys from a “negative” rating to a “neutral” rating and set a $17.00 target price on the stock in a report on Monday, April 14th. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a research note on Wednesday. Guggenheim restated a “neutral” rating on shares of Infosys in a research report on Friday, January 17th. Finally, The Goldman Sachs Group downgraded Infosys from a “buy” rating to a “neutral” rating and set a $17.90 price objective for the company. in a report on Monday, April 21st. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.48.

Infosys Trading Up 0.3 %

NYSE INFY opened at $17.41 on Friday. Infosys Limited has a 12 month low of $15.82 and a 12 month high of $23.63. The stock’s fifty day moving average price is $18.40 and its 200-day moving average price is $20.89. The stock has a market cap of $72.11 billion, a P/E ratio of 22.04, a P/E/G ratio of 3.50 and a beta of 0.97.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Thursday, April 17th. The technology company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. The company had revenue of $4.79 billion for 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 period in the prior year, the firm posted $0.23 EPS. As a group, analysts forecast that Infosys Limited will post 0.74 earnings per share for the current fiscal 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.