Russell Investments Group Ltd. Decreases Position in Infosys Limited (NYSE:INFY)

Russell Investments Group Ltd. reduced its stake in shares of Infosys Limited (NYSE:INFY) by 8.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,874,847 shares of the technology company’s stock after selling 272,314 shares during the quarter. Russell Investments Group Ltd. owned 0.07% of Infosys worth $52,840,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new position in shares of Infosys during the fourth quarter worth $36,000. JFS Wealth Advisors LLC boosted its holdings in Infosys by 88.3% in the third quarter. JFS Wealth Advisors LLC now owns 2,945 shares of the technology company’s stock valued at $50,000 after purchasing an additional 1,381 shares during the last quarter. Planned Solutions Inc. purchased a new stake in Infosys during the 4th quarter worth approximately $50,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Infosys in the 3rd quarter valued at approximately $85,000. Finally, Blue Trust Inc. boosted its stake in shares of Infosys by 61.8% during the 4th quarter. Blue Trust Inc. now owns 9,443 shares of the technology company’s stock valued at $161,000 after buying an additional 3,606 shares during the last quarter. 10.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INFY has been the topic of a number of research analyst reports. Bank of America upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 9th. Guggenheim began coverage on Infosys in a report on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 price objective for the company. HSBC reissued a “hold” rating and issued a $20.10 price objective on shares of Infosys in a report on Friday, April 19th. UBS Group raised Infosys from a “neutral” rating to a “buy” rating in a report on Wednesday, January 3rd. Finally, BNP Paribas began coverage on Infosys in a report on Wednesday, January 17th. They issued an “outperform” rating and a $24.00 price objective for the company. One investment 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. Based on data from MarketBeat.com, Infosys has a consensus rating of “Hold” and a consensus price target of $19.27.

Infosys Price Performance

INFY opened at $16.94 on Monday. The company has a market capitalization of $70.12 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 2.26 and a beta of 0.93. Infosys Limited has a 1-year low of $14.98 and a 1-year high of $20.74. The business has a 50 day moving average price of $18.49 and a two-hundred day moving average price of $18.33.

Infosys (NYSE:INFY) last released its earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The firm 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 prior year, the firm posted $0.18 earnings per share. Equities analysts expect that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Company 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 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.