Victory Capital Management Inc. boosted its stake in Infosys Ltd (NYSE:INFY) by 14.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,052,852 shares of the technology company’s stock after buying an additional 263,718 shares during the quarter. Victory Capital Management Inc.’s holdings in Infosys were worth $22,438,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in INFY. Nkcfo LLC acquired a new stake in Infosys in the 4th quarter valued at $25,000. Next Capital Management LLC acquired a new position in Infosys in the first quarter worth $26,000. Financial Gravity Wealth Inc. acquired a new position in Infosys in the first quarter worth $27,000. We Are One Seven LLC acquired a new position in Infosys in the fourth quarter worth $28,000. Finally, Advisory Services Network LLC boosted its stake in Infosys by 303.8% in the fourth quarter. Advisory Services Network LLC now owns 4,228 shares of the technology company’s stock worth $40,000 after purchasing an additional 3,181 shares in the last quarter. 17.57% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have commented on the company. Credit Suisse Group lowered Infosys from a “neutral” rating to an “underperform” rating in a research note on Monday, April 15th. Investec lowered Infosys from a “buy” rating to a “hold” rating in a research note on Monday, April 15th. Zacks Investment Research lowered Infosys from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. HSBC lowered Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. Finally, Morgan Stanley lowered Infosys from an “overweight” rating to an “equal weight” rating and set a $10.62 price objective on the stock. in a research note on Monday, April 15th. Two investment analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $11.26.
Infosys (NYSE:INFY) last released its earnings results on Friday, April 12th. The technology company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.04 billion. Infosys had a return on equity of 25.41% and a net margin of 18.62%. During the same quarter in the previous year, the company posted $0.13 earnings per share. On average, research analysts forecast that Infosys Ltd will post 0.55 EPS for the current year.
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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