Massachusetts Financial Services Co. MA boosted its position in shares of Infosys Ltd (NYSE:INFY) by 207.1% in the third quarter, HoldingsChannel.com reports. The firm owned 970,707 shares of the technology company’s stock after purchasing an additional 654,658 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Infosys were worth $9,872,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of INFY. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Infosys by 269.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,540 shares of the technology company’s stock valued at $108,000 after buying an additional 4,040 shares during the period. Daiwa SB Investments Ltd. boosted its holdings in shares of Infosys by 100.0% in the third quarter. Daiwa SB Investments Ltd. now owns 10,600 shares of the technology company’s stock valued at $108,000 after buying an additional 5,300 shares during the period. NuWave Investment Management LLC boosted its holdings in shares of Infosys by 31,944.4% in the third quarter. NuWave Investment Management LLC now owns 14,420 shares of the technology company’s stock valued at $147,000 after buying an additional 14,375 shares during the period. Chevy Chase Trust Holdings Inc. acquired a new position in shares of Infosys in the third quarter valued at approximately $163,000. Finally, Exane Derivatives boosted its holdings in shares of Infosys by 706.0% in the third quarter. Exane Derivatives now owns 19,432 shares of the technology company’s stock valued at $198,000 after buying an additional 17,021 shares during the period. Hedge funds and other institutional investors own 9.74% of the company’s stock.
Several research analysts have recently weighed in on the stock. ValuEngine cut shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Cantor Fitzgerald upped their price target on shares of Infosys from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, July 16th. Deutsche Bank assumed coverage on shares of Infosys in a report on Thursday, July 12th. They issued a “buy” rating for the company. BMO Capital Markets reiterated a “hold” rating and issued a $11.00 price target on shares of Infosys in a report on Wednesday, October 17th. Finally, Cowen upped their price target on shares of Infosys from $16.00 to $17.00 and gave the company a “market perform” rating in a report on Monday, July 16th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $15.26.
Infosys (NYSE:INFY) last announced its earnings results on Tuesday, October 16th. The technology company reported $0.13 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.13. Infosys had a net margin of 21.94% and a return on equity of 24.56%. The business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the prior year, the company posted $0.13 earnings per share. Analysts forecast that Infosys Ltd will post 0.52 EPS for the current fiscal year.
The firm also recently announced a dividend, which was paid on Friday, October 26th. Investors of record on Friday, October 26th were issued a dividend of $0.085 per share. The ex-dividend date of this dividend was Thursday, October 25th. Infosys’s payout ratio is 34.00%.
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Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.
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