Hudson Edge Investment Partners Inc. increased its holdings in shares of Infosys Ltd. (NYSE:INFY – Free Report) by 56.5% during the first quarter, Holdings Channel reports. The fund owned 4,452,990 shares of the technology company’s stock after acquiring an additional 1,607,300 shares during the quarter. Infosys comprises about 8.8% of Hudson Edge Investment Partners Inc.’s holdings, making the stock its 2nd biggest holding. Hudson Edge Investment Partners Inc.’s holdings in Infosys were worth $60,160,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Infosys by 6.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,155 shares of the technology company’s stock valued at $1,153,000 after purchasing an additional 3,804 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Infosys by 79.9% during the 1st quarter. NewEdge Advisors LLC now owns 54,978 shares of the technology company’s stock worth $1,003,000 after buying an additional 24,426 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Infosys during the 1st quarter worth about $239,000. Trinity Street Asset Management LLP boosted its holdings in shares of Infosys by 45.5% during the 1st quarter. Trinity Street Asset Management LLP now owns 14,938,546 shares of the technology company’s stock worth $201,820,000 after buying an additional 4,674,742 shares during the period. Finally, Deltec Asset Management LLC grew its stake in Infosys by 13.6% in the 1st quarter. Deltec Asset Management LLC now owns 58,500 shares of the technology company’s stock valued at $790,000 after buying an additional 7,000 shares during the last quarter. Institutional investors own 16.20% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on INFY. Wells Fargo & Company set a $11.00 price target on shares of Infosys and gave the company an “equal weight” rating in a report on Friday, June 26th. JPMorgan Chase & Co. lowered their target price on Infosys from $16.80 to $12.70 and set an “overweight” rating on the stock in a research note on Wednesday, June 24th. Susquehanna reduced their price target on Infosys from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Infosys in a report on Monday, June 8th. Finally, Stifel Nicolaus set a $15.00 price objective on Infosys in a research report on Thursday, April 23rd. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.63.
Infosys Stock Up 0.1%
Shares of Infosys stock opened at $11.17 on Friday. The stock has a market capitalization of $45.22 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 1.45 and a beta of 0.90. Infosys Ltd. has a twelve month low of $10.34 and a twelve month high of $30.00. The company has a 50-day simple moving average of $11.99 and a two-hundred day simple moving average of $14.48.
Infosys (NYSE:INFY – Get Free Report) last announced its earnings results on Wednesday, April 1st. The technology company reported $0.23 earnings per share (EPS) for the quarter. Infosys had a net margin of 16.44% and a return on equity of 32.64%. The firm had revenue of $5.04 billion for the quarter. On average, sell-side analysts anticipate that Infosys Ltd. will post 0.83 earnings per share for the current fiscal 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. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.
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