LGT Fund Management Co Ltd. Purchases New Shares in Infosys Limited (NYSE:INFY)

LGT Fund Management Co Ltd. purchased a new stake in shares of Infosys Limited (NYSE:INFY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 27,000 shares of the technology company’s stock, valued at approximately $501,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new stake in shares of Infosys in the third quarter valued at about $158,356,000. Aikya Investment Management Ltd acquired a new stake in shares of Infosys in the fourth quarter valued at about $71,409,000. FMR LLC grew its position in shares of Infosys by 15.2% in the third quarter. FMR LLC now owns 24,819,637 shares of the technology company’s stock valued at $424,664,000 after purchasing an additional 3,275,485 shares during the period. Value Partners Investments Inc. lifted its stake in shares of Infosys by 857.8% in the third quarter. Value Partners Investments Inc. now owns 2,701,000 shares of the technology company’s stock worth $46,214,000 after buying an additional 2,419,000 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Infosys by 33.9% in the third quarter. American Century Companies Inc. now owns 3,687,017 shares of the technology company’s stock worth $63,085,000 after buying an additional 932,570 shares in the last quarter. Institutional investors and hedge funds own 10.89% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on INFY shares. Bank of America raised shares of Infosys from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 9th. BMO Capital Markets decreased their price target on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a research note on Friday, April 19th. UBS Group raised shares of Infosys from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 3rd. Guggenheim started coverage on shares of Infosys in a research note on Tuesday, March 19th. They set a “neutral” rating and a $20.00 target price on the stock. Finally, StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $19.27.

Infosys Price Performance

Shares of INFY stock traded up $0.13 during trading on Thursday, reaching $16.90. The company’s stock had a trading volume of 3,267,730 shares, compared to its average volume of 9,583,753. The company has a market capitalization of $69.95 billion, a price-to-earnings ratio of 22.03, a P/E/G ratio of 2.24 and a beta of 0.95. The stock’s 50-day moving average price is $18.29 and its 200 day moving average price is $18.32. Infosys Limited has a 1-year low of $14.98 and a 1-year high of $20.74.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Infosys had a net margin of 17.06% and a return on equity of 32.33%. During the same quarter in the previous year, the business posted $0.18 EPS. On average, sell-side analysts anticipate that Infosys Limited will post 0.75 EPS for the current fiscal year.

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 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.