JARISLOWSKY FRASER Ltd Grows Holdings in Infosys Limited (NYSE:INFY)

JARISLOWSKY FRASER Ltd grew its stake in shares of Infosys Limited (NYSE:INFYFree Report) by 14.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 251,324 shares of the technology company’s stock after buying an additional 30,915 shares during the period. JARISLOWSKY FRASER Ltd’s holdings in Infosys were worth $4,619,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in INFY. FMR LLC raised its stake in shares of Infosys by 15.2% during the third quarter. FMR LLC now owns 24,819,637 shares of the technology company’s stock worth $424,664,000 after acquiring an additional 3,275,485 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Infosys during the third quarter valued at about $158,356,000. Vanguard Group Inc. increased its holdings in shares of Infosys by 2.3% in the third quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock worth $139,327,000 after buying an additional 180,888 shares during the period. Franklin Resources Inc. lifted its stake in shares of Infosys by 20.7% in the 4th quarter. Franklin Resources Inc. now owns 6,719,669 shares of the technology company’s stock valued at $123,508,000 after acquiring an additional 1,150,885 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Infosys by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,360,152 shares of the technology company’s stock valued at $98,547,000 after acquiring an additional 209,675 shares during the period. 10.89% of the stock is owned by institutional investors.

Infosys Stock Performance

Shares of NYSE INFY traded down $0.02 during midday trading on Tuesday, hitting $17.34. 3,064,341 shares of the company traded hands, compared to its average volume of 9,281,337. Infosys Limited has a 12-month low of $15.11 and a 12-month high of $20.74. The stock has a 50-day moving average price of $17.38 and a 200 day moving average price of $18.38. The firm has a market cap of $71.79 billion, a P/E ratio of 22.84, a P/E/G ratio of 3.20 and a beta of 0.95.

Infosys (NYSE:INFYGet Free Report) last released its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The company had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.49 billion. Infosys had a return on equity of 32.33% and a net margin of 17.06%. During the same period in the previous year, the company posted $0.18 earnings per share. As a group, equities analysts expect that Infosys Limited will post 0.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. BMO Capital Markets decreased their price target on Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a research note on Friday, April 19th. Bank of America raised shares of Infosys from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 9th. Wedbush reissued an “outperform” rating and set a $22.00 price target on shares of Infosys in a research report on Wednesday, March 13th. HSBC reissued a “hold” rating and issued a $20.10 target price on shares of Infosys in a research note on Friday, April 19th. Finally, Guggenheim initiated coverage on Infosys in a research report on Tuesday, March 19th. They set a “neutral” rating and a $20.00 price target for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.27.

Check Out Our Latest Research Report on INFY

Infosys Company Profile

(Free Report)

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides digital marketing and digital workplace, digital commerce, digital experience and interactions, metaverse, data analytics and AI, applied AI, generative AI, sustainability, blockchain, engineering, Internet of Things, enterprise agile DevOps, application modernization, cloud, digital process automation, digital supply chain, Microsoft business application and cloud business, service experience transformation, energy transition, cyber security, and quality engineering solutions; Oracle, SAP, and Saleforce solutions; API economy and microservices; and Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies.

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Institutional Ownership by Quarter for Infosys (NYSE:INFY)

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