The Manufacturers Life Insurance Company lessened its holdings in Infosys Limited (NYSE:INFY – Get Rating ) by 14.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 280,276 shares of the technology company’s stock after selling 45,846 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Infosys were worth $4,756,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nomura Holdings Inc. boosted its holdings in shares of Infosys by 27.8% in the second quarter. Nomura Holdings Inc. now owns 206,175 shares of the technology company’s stock valued at $3,837,000 after buying an additional 44,789 shares in the last quarter. Schubert & Co purchased a new stake in shares of Infosys in the second quarter worth about $31,000. Echo Street Capital Management LLC raised its holdings in shares of Infosys by 134.5% in the second quarter. Echo Street Capital Management LLC now owns 38,203 shares of the technology company’s stock valued at $707,000 after purchasing an additional 21,911 shares in the last quarter. Twin Tree Management LP bought a new stake in shares of Infosys in the second quarter worth about $148,000. Finally, FMR LLC boosted its holdings in shares of Infosys by 20.3% in the second quarter. FMR LLC now owns 29,344,087 shares of the technology company’s stock valued at $543,159,000 after purchasing an additional 4,956,478 shares in the last quarter. Institutional investors own 12.68% of the company’s shares.
Wall Street analysts forecast growth
Several equities research analysts recently weighed in on the stock. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a report on Monday. Cowen cut their price objective on shares of Infosys from $19.00 to $18.00 and set a “market perform” rating on the stock in a report on Friday, October 14th. Cowen cut their price objective on shares of Infosys from $19.00 to $18.00 and set a “market perform” rating on the stock in a report on Friday, October 14th. BMO Capital Markets boosted their price objective on shares of Infosys from $20.00 to $21.00 and gave the stock a “market perform” rating in a report on Friday, January 13th. Finally, Investec raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Friday, October 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $21.19, based on data from MarketBeat.
Infosys Trading up 0.2%
Infosys stock opened at $18.69 on Tuesday. The company has a market cap of $78.64 billion, a PE ratio of 26.32, a PEG ratio of 2.61 and a beta of 1.01. The company’s 50-day moving average is $18.70, and its two-hundred-day moving average is $18.61. Infosys Limited has a 1 year low of $16.39 and a 1 year high of $25.20.
Infosys (NYSE:INFY – Get Rating ) last announced its quarterly earnings results on Thursday, January 12th. The technology company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. The business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.66 billion. Infosys had a net margin of 16.66% and a return on equity of 31.23%. During the same period last year, the company reported $0.18 EPS. analysts predict that Infosys Limited will post 0.72 EPS for the current year.
Infosys profile
(Get Rating)
Infosys Ltd. is a digital services and consulting company engaged in providing comprehensive business solutions. It operates in the following segments: financial services, retail, communications, energy, utilities, resources and services, manufacturing, high technology, life sciences and all others.
Selected articles
Want to see what other hedge funds hold INFY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Infosys Limited (NYSE:INFY – Get Rating).
This instant news alert is generated by narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Infosys, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients daily. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now, before the broader market takes a nosedive… and Infosys wasn’t on the list.
Although Infosys currently has a “Hold” rating among analysts, top-rated analysts consider these five stocks to be better buys.
Check out the five stocks here
