Quantitative Investment Management LLC acquired a new stake in shares of Infosys Ltd. (NYSE:INFY – Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 228,368 shares of the technology company’s stock, valued at approximately $2,395,000.
Several other hedge funds also recently bought and sold shares of the business. Trinity Street Asset Management LLP increased its stake in Infosys by 45.5% in the first quarter. Trinity Street Asset Management LLP now owns 14,938,546 shares of the technology company’s stock worth $201,820,000 after purchasing an additional 4,674,742 shares during the period. Lazard Asset Management LLC lifted its position in shares of Infosys by 17.0% during the first quarter. Lazard Asset Management LLC now owns 26,776,494 shares of the technology company’s stock worth $361,750,000 after purchasing an additional 3,893,801 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Infosys during the second quarter valued at $23,235,000. Hudson Edge Investment Partners Inc. grew its holdings in shares of Infosys by 56.5% in the first quarter. Hudson Edge Investment Partners Inc. now owns 4,452,990 shares of the technology company’s stock worth $60,160,000 after purchasing an additional 1,607,300 shares during the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of Infosys in the first quarter worth about $10,708,000. Institutional investors own 16.20% of the company’s stock.
Infosys Price Performance
Shares of INFY stock opened at $12.09 on Monday. The stock’s 50-day moving average is $11.58 and its 200 day moving average is $12.66. Infosys Ltd. has a 1-year low of $10.30 and a 1-year high of $30.00. The company has a market cap of $48.96 billion, a P/E ratio of 14.93, a PEG ratio of 2.81 and a beta of 0.88.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on INFY. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $10.90 price objective (down from $12.70) on shares of Infosys in a report on Friday, July 24th. Weiss Ratings downgraded shares of Infosys from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Stifel Nicolaus set a $13.00 target price on shares of Infosys and gave the stock a “hold” rating in a research report on Thursday, July 16th. HSBC set a $11.47 price target on shares of Infosys and gave the company a “hold” rating in a research note on Friday, July 24th. Finally, CLSA cut Infosys from an “outperform” rating to a “hold” rating in a research note on Wednesday, August 19th. Nine research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $11.63.
View Our Latest Stock Report on Infosys
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. 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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