Engineers Gate Manager LP Increases Stock Holdings in Infosys Ltd. $INFY

Engineers Gate Manager LP increased its stake in shares of Infosys Ltd. (NYSE:INFY – Free Report) by 98.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 381,772 shares of the technology company’s stock after purchasing an additional 189,631 shares during the period. Engineers Gate Manager LP’s holdings in Infosys were worth $4,005,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Infosys by 6.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,155 shares of the technology company’s stock worth $1,153,000 after acquiring an additional 3,804 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Infosys by 79.9% in the 1st quarter. NewEdge Advisors LLC now owns 54,978 shares of the technology company’s stock valued at $1,003,000 after purchasing an additional 24,426 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Infosys during the 1st quarter worth $239,000. Trinity Street Asset Management LLP boosted its holdings in Infosys by 45.5% in the first quarter. Trinity Street Asset Management LLP now owns 14,938,546 shares of the technology company’s stock valued at $201,820,000 after acquiring an additional 4,674,742 shares during the last quarter. Finally, Deltec Asset Management LLC grew its position in Infosys by 13.6% during the first quarter. Deltec Asset Management LLC now owns 58,500 shares of the technology company’s stock valued at $790,000 after acquiring an additional 7,000 shares during the period. Hedge funds and other institutional investors own 16.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on INFY shares. Susquehanna reduced their price objective on Infosys from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, July 24th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $10.90 price objective (down from $12.70) on shares of Infosys in a research note on Friday, July 24th. TD Cowen restated a “hold” rating and set a $9.00 target price (down from $10.00) on shares of Infosys in a report on Friday, July 24th. BMO Capital Markets reiterated a “market perform” rating and issued a $12.00 price target (down from $13.00) on shares of Infosys in a report on Friday, July 24th. Finally, HSBC set a $11.47 price objective on Infosys and gave the stock a “hold” rating in a research note on Friday, July 24th. Nine equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Infosys presently has a consensus rating of “Reduce” and an average price target of $11.59.

Read Our Latest Report on INFY

Infosys Trading Up 1.6%

Shares of Infosys stock opened at $11.09 on Friday. The stock has a market capitalization of $44.89 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 2.58 and a beta of 0.87. Infosys Ltd. has a twelve month low of $10.30 and a twelve month high of $30.00. The business’s 50 day simple moving average is $11.73 and its 200-day simple moving average is $12.43.

Infosys (NYSE:INFY – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). Infosys had a return on equity of 33.91% and a net margin of 16.38%.The business had revenue of $4.99 billion during the quarter, compared to the consensus estimate of $5.08 billion. Sell-side analysts predict that Infosys Ltd. will post 0.81 earnings per share for the current year.

About Infosys

(Free Report)

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.

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