International Assets Investment Management LLC Acquires New Position in Infosys Limited (NYSE:INFY)

International Assets Investment Management LLC bought a new stake in Infosys Limited (NYSE:INFY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 47,788 shares of the technology company’s stock, valued at approximately $878,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vontobel Holding Ltd. boosted its stake in Infosys by 52.1% during the third quarter. Vontobel Holding Ltd. now owns 30,320 shares of the technology company’s stock worth $519,000 after buying an additional 10,388 shares during the period. Caprock Group LLC lifted its stake in Infosys by 12.8% during the 3rd quarter. Caprock Group LLC now owns 30,239 shares of the technology company’s stock worth $517,000 after acquiring an additional 3,439 shares in the last quarter. Ballentine Partners LLC grew its position in Infosys by 9.5% in the 3rd quarter. Ballentine Partners LLC now owns 34,544 shares of the technology company’s stock valued at $591,000 after acquiring an additional 2,990 shares in the last quarter. First Personal Financial Services boosted its stake in shares of Infosys by 4.2% in the third quarter. First Personal Financial Services now owns 242,613 shares of the technology company’s stock valued at $4,151,000 after purchasing an additional 9,801 shares during the period. Finally, PDS Planning Inc increased its stake in Infosys by 5.4% during the 3rd quarter. PDS Planning Inc now owns 29,868 shares of the technology company’s stock worth $511,000 after buying an additional 1,532 shares during the period. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Price Performance

Shares of INFY opened at $17.18 on Wednesday. The firm has a fifty day moving average price of $18.69 and a 200 day moving average price of $18.34. The stock has a market cap of $71.09 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 2.21 and a beta of 0.93. Infosys Limited has a 1-year low of $14.71 and a 1-year high of $20.74.

Infosys (NYSE:INFY) last posted its 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 business had revenue of $4.56 billion during the quarter, compared to the consensus estimate 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 business earned $0.18 EPS. As a group, equities analysts expect that Infosys Limited will post 0.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

INFY has been the subject of several analyst reports. HSBC reissued a “hold” rating and set a $20.10 target price on shares of Infosys in a research note on Friday, April 19th. JPMorgan Chase & Co. raised shares of Infosys from a “neutral” rating to an “overweight” rating in a report on Wednesday, January 3rd. Wedbush reiterated an “outperform” rating and set a $22.00 price target on shares of Infosys in a report on Wednesday, March 13th. UBS Group upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a report on Wednesday, January 3rd. Finally, StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.27.

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.