Infosys Limited (NYSE:INFY) Shares Acquired by Profund Advisors LLC

Profund Advisors LLC boosted its holdings in shares of Infosys Limited (NYSE:INFY) by 15.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,779 shares of the technology company’s stock after purchasing an additional 14,966 shares during the period. Profund Advisors LLC’s holdings in Infosys were worth $1,796,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in INFY. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Infosys by 17.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 267,905 shares of the technology company’s stock valued at $4,305,000 after acquiring an additional 38,944 shares during the period. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Infosys by 15.0% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 7,115 shares of the technology company’s stock valued at $114,000 after acquiring an additional 928 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Infosys by 131.7% during the second quarter. Russell Investments Group Ltd. now owns 2,895,828 shares of the technology company’s stock valued at $46,535,000 after acquiring an additional 1,645,972 shares during the period. Artisan Partners Limited Partnership raised its holdings in shares of Infosys by 55.3% during the second quarter. Artisan Partners Limited Partnership now owns 66,904 shares of the technology company’s stock valued at $1,075,000 after acquiring an additional 23,830 shares during the period. Finally, Nwam LLC acquired a new stake in shares of Infosys during the second quarter valued at approximately $168,000. 11.39% of the stock is owned by institutional investors and hedge funds.

Infosys Stock Up 0.2 %

Shares of INFY opened at $17.55 on Tuesday. The company’s fifty day moving average is $17.17 and its 200-day moving average is $16.60. Infosys Limited has a 12 month low of $14.71 and a 12 month high of $20.57. The firm has a market cap of $72.62 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 2.47 and a beta of 0.96.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, October 12th. The technology company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Infosys had a net margin of 16.28% and a return on equity of 32.51%. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.55 billion. During the same quarter in the prior year, the business posted $0.18 EPS. As a group, research analysts predict that Infosys Limited will post 0.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Nomura upgraded shares of Infosys from a “reduce” rating to a “neutral” rating in a research note on Friday, September 8th. StockNews.com upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research note on Friday, October 13th. Wedbush reiterated an “outperform” rating and issued a $22.00 price objective on shares of Infosys in a research note on Monday, September 18th. JPMorgan Chase & Co. upgraded shares of Infosys from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $14.00 to $16.80 in a research note on Wednesday, October 4th. Finally, The Goldman Sachs Group assumed coverage on shares of Infosys in a research note on Tuesday, August 22nd. They issued a “buy” rating on the stock. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Infosys presently has a consensus rating of “Hold” and an average target price of $18.93.

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.