Raymond James Financial Services Advisors Inc. Has $618,000 Position in Infosys Limited (NYSE:INFY)

Raymond James Financial Services Advisors Inc. raised its stake in Infosys Limited (NYSE:INFY) by 18.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,638 shares of the technology company’s stock after purchasing an additional 5,159 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Infosys were worth $618,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new position in shares of Infosys in the third quarter valued at $5,047,000. Vanguard Group Inc. boosted its position in shares of Infosys by 2.3% in the third quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock valued at $139,327,000 after acquiring an additional 180,888 shares during the period. Rhumbline Advisers boosted its position in shares of Infosys by 3.0% in the third quarter. Rhumbline Advisers now owns 908,911 shares of the technology company’s stock valued at $15,551,000 after acquiring an additional 26,833 shares during the period. American Century Companies Inc. boosted its position in shares of Infosys by 33.9% in the third quarter. American Century Companies Inc. now owns 3,687,017 shares of the technology company’s stock valued at $63,085,000 after acquiring an additional 932,570 shares during the period. Finally, Royal London Asset Management Ltd. boosted its position in shares of Infosys by 97.3% in the third quarter. Royal London Asset Management Ltd. now owns 646,094 shares of the technology company’s stock valued at $11,058,000 after acquiring an additional 318,547 shares during the period. 10.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. BMO Capital Markets boosted their target price on shares of Infosys from $18.00 to $21.00 and gave the company a “market perform” rating in a research report on Friday, January 12th. Bank of America raised shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. Guggenheim assumed coverage on shares of Infosys in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 target price for the company. Finally, Wedbush reissued an “outperform” rating and issued a $22.00 target price on shares of Infosys in a research report on Wednesday, March 13th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.76.

Infosys Stock Down 0.6 %

INFY opened at $16.94 on Thursday. Infosys Limited has a twelve month low of $14.71 and a twelve month high of $20.74. The company has a 50-day simple moving average of $18.94 and a 200 day simple moving average of $18.35. The stock has a market capitalization of $70.12 billion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 2.28 and a beta of 0.93.

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.