Raymond James Financial Inc. Purchases Shares of 58,677 Infosys Limited (NYSE:INFY)

Raymond James Financial Inc. acquired a new stake in shares of Infosys Limited (NYSE:INFY) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 58,677 shares of the technology company’s stock, valued at approximately $1,286,000.

Several other institutional investors and hedge funds have also modified their holdings of INFY. Sierra Ocean LLC acquired a new stake in shares of Infosys during the 4th quarter valued at about $29,000. Brooklyn Investment Group acquired a new stake in Infosys in the fourth quarter valued at approximately $52,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Infosys in the third quarter valued at approximately $57,000. Farther Finance Advisors LLC raised its stake in shares of Infosys by 69.7% during the 4th quarter. Farther Finance Advisors LLC now owns 3,115 shares of the technology company’s stock worth $68,000 after buying an additional 1,279 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Infosys by 14.2% during the 4th quarter. GAMMA Investing LLC now owns 4,496 shares of the technology company’s stock valued at $99,000 after buying an additional 560 shares in the last quarter. Institutional investors and hedge funds own 16.20% of the company’s stock.

Infosys Trading Up 1.6 %

Shares of INFY opened at $17.89 on Friday. The firm has a 50-day moving average price of $18.06 and a 200 day moving average price of $20.71. Infosys Limited has a 12-month low of $15.82 and a 12-month high of $23.63. The firm has a market capitalization of $74.10 billion, a P/E ratio of 22.65, a P/E/G ratio of 3.50 and a beta of 0.97.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, April 17th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Infosys had a net margin of 17.28% and a return on equity of 31.60%. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $420.69 billion. During the same quarter last year, the firm earned $0.23 EPS. Equities research analysts predict that Infosys Limited will post 0.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Guggenheim restated a “neutral” rating on shares of Infosys in a research report on Friday, January 17th. StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a research report on Wednesday, April 23rd. Stifel Nicolaus lowered their price objective on Infosys from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Monday, April 21st. CLSA raised Infosys from a “hold” rating to an “outperform” rating in a report on Friday, March 7th. Finally, The Goldman Sachs Group lowered Infosys from a “buy” rating to a “neutral” rating and set a $17.90 price target on the stock. in a research note on Monday, April 21st. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.48.

Infosys Company Profile

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other.