LPL Financial LLC lessened its holdings in Infosys Limited (NYSE:INFY – Free Report) by 8.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 113,408 shares of the technology company’s stock after selling 10,387 shares during the period. LPL Financial LLC’s holdings in Infosys were worth $1,822,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the business. State Street Corp raised its stake in Infosys by 34.6% during the 1st quarter. State Street Corp now owns 19,989,499 shares of the technology company’s stock worth $497,539,000 after acquiring an additional 5,143,124 shares during the period. JPMorgan Chase & Co. raised its stake in Infosys by 6.7% during the 1st quarter. JPMorgan Chase & Co. now owns 72,618,957 shares of the technology company’s stock worth $1,266,476,000 after acquiring an additional 4,557,724 shares during the period. Acadian Asset Management LLC raised its position in shares of Infosys by 216.8% during the first quarter. Acadian Asset Management LLC now owns 5,425,668 shares of the technology company’s stock valued at $94,608,000 after buying an additional 3,713,279 shares during the last quarter. Genesis Investment Management LLP raised its position in shares of Infosys by 189.0% during the second quarter. Genesis Investment Management LLP now owns 4,156,694 shares of the technology company’s stock valued at $69,990,000 after buying an additional 2,718,568 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Infosys by 53.7% during the first quarter. Bank of America Corp DE now owns 6,318,517 shares of the technology company’s stock valued at $110,195,000 after buying an additional 2,208,411 shares during the last quarter. Institutional investors own 11.39% of the company’s stock.
Infosys Trading Up 1.7 %
NYSE:INFY opened at $16.63 on Monday. Infosys Limited has a twelve month low of $14.71 and a twelve month high of $20.57. The company has a market cap of $68.83 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 2.36 and a beta of 0.96. The stock has a fifty day simple moving average of $17.23 and a 200-day simple moving average of $16.53.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on INFY shares. The Goldman Sachs Group assumed coverage on shares of Infosys in a research report on Tuesday, August 22nd. They set a “buy” rating on the stock. Nomura raised shares of Infosys from a “reduce” rating to a “neutral” rating in a report on Friday, September 8th. StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Friday, October 13th. Wedbush reissued 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 shares of Infosys from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $14.00 to $16.80 in a research note on Wednesday, October 4th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Infosys presently has a consensus rating of “Hold” and a consensus price target of $18.93.
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.
- Five stocks we like better than Infosys
- What is Put Option Volume?
- MarketBeat Week in Review – 11/6 – 11/10
- 3 Warren Buffett Stocks to Buy Now
- Data giants MongoDB and Snowflake just got upgraded
- Russell 2000 Index, How Investors Use it For Profitable Trading
- Plug Power at tipping point; it’s make or break time for hydrogen
Receive News & Ratings for Infosys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infosys and related companies with MarketBeat.com's FREE daily email newsletter.