Infosys Limited (NYSE:INFY) Stake Boosted by Kestra Private Wealth Services LLC

Posted by on Apr 20th, 2023

Kestra Private Wealth Services LLC grew its stake in shares of Infosys Limited (NYSE:INFY – Get Rating) by 22.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,804 shares of the technology company’s stock after acquiring an additional 3,042 shares during the period. Kestra Private Wealth Services LLC’s holdings in Infosys were worth $303,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. First Trust Advisors LP boosted its holdings in Infosys by 69.4% in the third quarter. First Trust Advisors LP now owns 23,292,667 shares of the technology company’s stock worth $395,276,000 after purchasing an additional 9,539,373 shares in the last quarter. State Street Corp boosted its holdings in Infosys by 34.6% in the first quarter. State Street Corp now owns 19,989,499 shares of the technology company’s stock worth $497,539,000 after purchasing an additional 5,143,124 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Infosys by 120.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,886,100 shares of the technology company’s stock worth $116,857,000 after purchasing an additional 3,760,600 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Infosys in the fourth quarter worth $4,324,000. Finally, Assenagon Asset Management S.A. bought a new stake in Infosys in the fourth quarter worth $61,966,000. 12.68% of the stock is currently owned by hedge funds and other institutional investors.

Infosys Stock Performance

Shares of INFY opened at $14.82 on Thursday. The company has a 50-day simple moving average of $17.54 and a 200-day simple moving average of $18.24. The firm has a market capitalization of $62.04 billion, a P/E ratio of 20.87, a P/E/G ratio of 1.93 and a beta of 1.00. Infosys Limited has a 52 week low of $14.76 and a 52 week high of $20.93.

Infosys (NYSE:INFY – Get Rating) last announced its quarterly earnings data on Thursday, April 13th. The technology company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Infosys had a net margin of 16.37% and a return on equity of 31.78%. The company had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.73 billion. During the same period in the prior year, the company posted $0.18 EPS. As a group, equities analysts forecast that Infosys Limited will post 0.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on INFY. BMO Capital Markets decreased their price objective on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, April 14th. Macquarie cut shares of Infosys from an “outperform” rating to a “neutral” rating in a report on Sunday. StockNews.com initiated coverage on shares of Infosys in a report on Thursday, March 16th. They set a “hold” rating for the company. Credit Suisse Group cut shares of Infosys from an “outperform” rating to a “neutral” rating in a report on Friday, April 14th. Finally, Wedbush decreased their price target on shares of Infosys from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Monday, March 13th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Infosys presently has an average rating of “Hold” and a consensus target price of $19.33.

Infosys Company Profile

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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.

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Institutional Ownership by Quarter for Infosys (NYSE:INFY)

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