Bank of New York Mellon Corp Has $75.91 Million Holdings in Infosys Ltd (INFY)
Bank of New York Mellon Corp raised its position in shares of Infosys Ltd (NYSE:INFY) by 358.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,679,711 shares of the technology company’s stock after purchasing an additional 3,658,003 shares during the period. Bank of New York Mellon Corp’s holdings in Infosys were worth $75,905,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of INFY. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Infosys in the 4th quarter worth approximately $344,000. Pinebridge Investments L.P. acquired a new stake in shares of Infosys in the 4th quarter worth approximately $8,953,000. First Allied Advisory Services Inc. acquired a new stake in shares of Infosys in the 4th quarter worth approximately $388,000. First Trust Advisors LP lifted its stake in shares of Infosys by 6.9% in the 4th quarter. First Trust Advisors LP now owns 3,396,754 shares of the technology company’s stock worth $55,095,000 after acquiring an additional 217,768 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Infosys by 6.9% in the 4th quarter. Sei Investments Co. now owns 1,643,239 shares of the technology company’s stock worth $26,653,000 after acquiring an additional 106,452 shares during the period. 20.03% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $16.00 price target on shares of Infosys in a research note on Tuesday, January 16th. Zacks Investment Research raised shares of Infosys from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Tuesday, January 16th. ValuEngine raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. UBS Group lowered shares of Infosys to a “neutral” rating in a research note on Monday, February 5th. Finally, Susquehanna Bancshares reissued a “negative” rating on shares of Infosys in a research note on Monday, February 5th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $15.77.
Infosys (NYSE:INFY) last released its earnings results on Friday, January 12th. The technology company reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. Infosys had a net margin of 22.97% and a return on equity of 21.31%. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same period in the prior year, the business earned $0.24 earnings per share. research analysts anticipate that Infosys Ltd will post 1 EPS for the current fiscal year.
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Infosys Limited is engaged in consulting, technology, outsourcing and next-generation services. The Company, along with its subsidiaries, provides business information technology services comprising application development and maintenance, independent validation, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking solution, and offerings in the areas of Analytics, Cloud and Digital Transformation.
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