Aaron Wealth Advisors LLC Buys Shares of 12,592 Infosys Limited (NYSE:INFY)

Aaron Wealth Advisors LLC purchased a new position in Infosys Limited (NYSE:INFY) during the third quarter, Holdings Channel reports. The institutional investor purchased 12,592 shares of the technology company’s stock, valued at approximately $280,000.

A number of other institutional investors also recently modified their holdings of INFY. Canada Pension Plan Investment Board grew its stake in Infosys by 37.3% during the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock worth $401,826,000 after purchasing an additional 5,862,144 shares during the period. Sustainable Growth Advisers LP grew its position in shares of Infosys by 4.4% during the 1st quarter. Sustainable Growth Advisers LP now owns 16,591,434 shares of the technology company’s stock worth $297,484,000 after buying an additional 699,641 shares during the period. Millennium Management LLC grew its position in shares of Infosys by 67.9% during the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock worth $141,532,000 after buying an additional 3,074,432 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Infosys by 10.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,248,026 shares of the technology company’s stock valued at $116,338,000 after acquiring an additional 570,435 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Infosys by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,040,195 shares of the technology company’s stock valued at $112,481,000 after acquiring an additional 715,812 shares during the period. 10.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Investec lowered Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. BMO Capital Markets increased their price target on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday. StockNews.com upgraded Infosys from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Finally, Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Infosys currently has an average rating of “Hold” and a consensus price target of $20.85.

Infosys Price Performance

INFY opened at $22.51 on Friday. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.48. The firm’s fifty day moving average price is $22.68 and its two-hundred day moving average price is $19.98. The company has a market capitalization of $93.19 billion, a price-to-earnings ratio of 29.62, a P/E/G ratio of 3.68 and a beta of 0.99.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a return on equity of 32.01% and a net margin of 17.18%. During the same quarter in the previous year, the business earned $0.18 EPS. As a group, equities analysts anticipate that Infosys Limited will post 0.75 EPS for the current year.

About Infosys

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.