Mackenzie Financial Corp Acquires 91,101 Shares of Infosys Limited (NYSE:INFY)

Mackenzie Financial Corp boosted its holdings in Infosys Limited (NYSE:INFY) by 299.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,487 shares of the technology company’s stock after acquiring an additional 91,101 shares during the quarter. Mackenzie Financial Corp’s holdings in Infosys were worth $2,233,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in INFY. Canada Pension Plan Investment Board bought a new position in shares of Infosys during the 3rd quarter valued at $158,356,000. Aikya Investment Management Ltd bought a new position in shares of Infosys during the 4th quarter valued at $71,409,000. FMR LLC lifted its holdings in shares of Infosys by 15.2% during the 3rd quarter. FMR LLC now owns 24,819,637 shares of the technology company’s stock valued at $424,664,000 after buying an additional 3,275,485 shares during the period. Value Partners Investments Inc. lifted its holdings in shares of Infosys by 857.8% during the 3rd quarter. Value Partners Investments Inc. now owns 2,701,000 shares of the technology company’s stock valued at $46,214,000 after buying an additional 2,419,000 shares during the period. Finally, American Century Companies Inc. raised its holdings in Infosys by 33.9% in the 3rd quarter. American Century Companies Inc. now owns 3,687,017 shares of the technology company’s stock worth $63,085,000 after purchasing an additional 932,570 shares during the period. 10.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on INFY. BNP Paribas began coverage on Infosys in a report on Wednesday, January 17th. They issued an “outperform” rating and a $24.00 target price on the stock. Susquehanna decreased their target price on Infosys from $15.00 to $14.00 and set a “negative” rating on the stock in a report on Friday, April 19th. BMO Capital Markets decreased their target price on Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a report on Friday, April 19th. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, HSBC reaffirmed a “hold” rating and issued a $20.10 target price on shares of Infosys in a report on Friday, April 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $19.27.

Infosys Stock Performance

Shares of INFY stock 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 firm 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 stock has a fifty day simple moving average of $18.69 and a two-hundred day simple moving average of $18.34.

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

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.