Mirae Asset Global Investments Co. Ltd. Buys 23,599 Shares of Infosys Limited (NYSE:INFY)

Mirae Asset Global Investments Co. Ltd. increased its stake in Infosys Limited (NYSE:INFY) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 274,699 shares of the technology company’s stock after buying an additional 23,599 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Infosys were worth $5,049,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FMR LLC increased its stake in Infosys by 15.2% in the third quarter. FMR LLC now owns 24,819,637 shares of the technology company’s stock worth $424,664,000 after purchasing an additional 3,275,485 shares during the period. State Street Corp increased its stake in Infosys by 9.2% in the first quarter. State Street Corp now owns 20,400,397 shares of the technology company’s stock worth $355,709,000 after purchasing an additional 1,722,731 shares during the period. BlackRock Inc. increased its stake in shares of Infosys by 11.8% during the first quarter. BlackRock Inc. now owns 17,115,250 shares of the technology company’s stock valued at $298,490,000 after buying an additional 1,810,239 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Infosys during the third quarter valued at $158,356,000. Finally, Vanguard Group Inc. increased its stake in shares of Infosys by 1.6% during the first quarter. Vanguard Group Inc. now owns 9,239,937 shares of the technology company’s stock valued at $229,982,000 after buying an additional 149,668 shares during the period. 10.89% of the stock is currently owned by institutional investors.

Infosys Price Performance

Shares of INFY stock opened at $17.28 on Tuesday. Infosys Limited has a 1-year low of $14.71 and a 1-year high of $20.74. The stock’s 50-day moving average is $19.08 and its 200 day moving average is $18.36. The company has a market cap of $71.50 billion, a P/E ratio of 24.33, a PEG ratio of 2.34 and a beta of 0.93.

Analyst Ratings Changes

INFY has been the topic of several research reports. Bank of America upgraded Infosys from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 9th. UBS Group upgraded Infosys from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. upgraded Infosys from a “neutral” rating to an “overweight” rating in a research note on Wednesday, January 3rd. HSBC upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. Finally, BMO Capital Markets raised their price objective on Infosys from $18.00 to $21.00 and gave the company a “market perform” rating in a research report on Friday, January 12th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Infosys currently has a consensus rating of “Moderate Buy” and an average price target of $20.76.

Infosys Company 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.