Infosys Limited (NYSE:INFY) Stock Position Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in shares of Infosys Limited (NYSE:INFY) by 0.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,078,243 shares of the technology company’s stock after purchasing an additional 5,586 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Infosys were worth $17,327,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Infosys by 34.6% during the 1st quarter. State Street Corp now owns 19,989,499 shares of the technology company’s stock valued at $497,539,000 after acquiring an additional 5,143,124 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Infosys by 6.7% during the 1st quarter. JPMorgan Chase & Co. now owns 72,618,957 shares of the technology company’s stock valued at $1,266,476,000 after acquiring an additional 4,557,724 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Infosys by 216.8% during the 1st quarter. Acadian Asset Management LLC now owns 5,425,668 shares of the technology company’s stock valued at $94,608,000 after acquiring an additional 3,713,279 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Infosys by 53.7% during the 1st quarter. Bank of America Corp DE now owns 6,318,517 shares of the technology company’s stock valued at $110,195,000 after acquiring an additional 2,208,411 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Infosys during the 1st quarter valued at about $37,599,000. 11.39% of the stock is owned by hedge funds and other institutional investors.

Infosys Trading Up 0.2 %

Shares of NYSE:INFY opened at $16.48 on Tuesday. The firm has a market capitalization of $68.20 billion, a PE ratio of 22.89, a PEG ratio of 2.34 and a beta of 0.96. Infosys Limited has a 1-year low of $14.71 and a 1-year high of $20.57. The business’s 50 day moving average is $17.36 and its 200-day moving average is $16.42.

Infosys (NYSE:INFY) last posted its earnings results on Thursday, October 12th. The technology company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.55 billion. Infosys had a return on equity of 32.51% and a net margin of 16.28%. During the same quarter last year, the company earned $0.18 EPS. On average, sell-side analysts predict that Infosys Limited will post 0.7 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on INFY shares. Nomura raised Infosys from a “reduce” rating to a “neutral” rating in a report on Friday, September 8th. The Goldman Sachs Group started coverage on Infosys in a report on Tuesday, August 22nd. They issued a “buy” rating on the stock. StockNews.com raised Infosys from a “hold” rating to a “buy” rating in a report on Friday, October 13th. Wedbush reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Infosys in a report on Monday, September 18th. Finally, JPMorgan Chase & Co. raised Infosys from an “underweight” rating to a “neutral” rating and raised their target price for the company from $14.00 to $16.80 in a report on Wednesday, October 4th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.93.

Infosys Profile

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.