JPMorgan Chase & Co. grew its stake in shares of Infosys Limited (NYSE:INFY – Free Report) by 6.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 72,618,957 shares of the technology company’s stock after purchasing an additional 4,557,724 shares during the period. JPMorgan Chase & Co. owned approximately 1.76% of Infosys worth $1,266,476,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Raymond James Financial Services Advisors Inc. boosted its position in shares of Infosys by 3.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 16,668 shares of the technology company’s stock worth $300,000 after buying an additional 523 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Infosys by 2.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 19,246 shares of the technology company’s stock worth $347,000 after buying an additional 534 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Infosys by 2.2% in the 4th quarter. Cetera Investment Advisers now owns 36,273 shares of the technology company’s stock worth $653,000 after buying an additional 781 shares in the last quarter. Crawford Investment Counsel Inc. lifted its holdings in Infosys by 2.9% in the 1st quarter. Crawford Investment Counsel Inc. now owns 28,800 shares of the technology company’s stock valued at $502,000 after purchasing an additional 800 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Infosys by 75.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,902 shares of the technology company’s stock valued at $34,000 after purchasing an additional 819 shares in the last quarter. 11.39% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have issued reports on INFY shares. StockNews.com started coverage on shares of Infosys in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Nomura upgraded shares of Infosys from a “reduce” rating to a “neutral” rating in a report on Friday, September 8th. JPMorgan Chase & Co. started coverage on shares of Infosys in a report on Tuesday, May 23rd. They issued an “underweight” rating and a $14.00 target price on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Infosys in a report on Tuesday, August 22nd. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Infosys has a consensus rating of “Hold” and a consensus target price of $18.57.
Infosys Price Performance
NYSE INFY opened at $18.00 on Thursday. The company has a 50-day moving average of $16.94 and a 200-day moving average of $16.43. The company has a market cap of $74.47 billion, a P/E ratio of 24.99, a P/E/G ratio of 2.45 and a beta of 0.97. Infosys Limited has a 12 month low of $14.71 and a 12 month high of $20.57.
Infosys (NYSE:INFY – Get Free Report) last posted its earnings results on Thursday, July 20th. The technology company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.55 billion. Infosys had a return on equity of 32.39% and a net margin of 16.41%. As a group, equities research analysts anticipate that Infosys Limited will post 0.71 EPS for the current 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 application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.
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