47,788 Shares in Infosys Limited (NYSE:INFY) Bought by International Assets Investment Management LLC

International Assets Investment Management LLC bought a new position in Infosys Limited (NYSE:INFY) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 47,788 shares of the technology company’s stock, valued at approximately $878,000.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings 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. Canada Pension Plan Investment Board acquired a new stake in shares of Infosys in the 3rd quarter worth approximately $158,356,000. Vanguard Group Inc. lifted its stake in shares of Infosys by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock worth $139,327,000 after acquiring an additional 180,888 shares during the period. Aikya Investment Management Ltd bought a new position in shares of Infosys in the fourth quarter valued at approximately $71,409,000. Finally, Oaktree Capital Management LP increased its stake in shares of Infosys by 2.9% during the third quarter. Oaktree Capital Management LP now owns 3,809,087 shares of the technology company’s stock valued at $65,173,000 after acquiring an additional 107,729 shares during the period. 10.89% of the stock is currently owned by institutional investors.

Infosys Stock Performance

Shares of INFY opened at $17.18 on Wednesday. Infosys Limited has a 52 week low of $14.71 and a 52 week high of $20.74. The company has a market capitalization of $71.09 billion, a PE ratio of 22.60, a PEG ratio of 2.21 and a beta of 0.93. The company’s 50 day moving average price is $18.69 and its 200 day moving average price is $18.34.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. Infosys had a net margin of 17.06% and a return on equity of 32.33%. The business had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.49 billion. During the same period in the previous year, the company posted $0.18 EPS. On average, equities analysts forecast that Infosys Limited will post 0.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on INFY. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Susquehanna reduced their price objective on shares of Infosys from $15.00 to $14.00 and set a “negative” rating for the company in a research note on Friday, April 19th. BNP Paribas started coverage on shares of Infosys in a research report on Wednesday, January 17th. They issued an “outperform” rating and a $24.00 target price on the stock. Wedbush restated an “outperform” rating and issued a $22.00 price target on shares of Infosys in a research report on Wednesday, March 13th. Finally, Bank of America upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Infosys presently has a consensus rating of “Hold” and an average price target of $19.27.

About Infosys

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.