LGT Fund Management Co Ltd. Makes New $501,000 Investment in Infosys Limited (NYSE:INFY)

LGT Fund Management Co Ltd. purchased a new position in Infosys Limited (NYSE:INFY) during the 4th quarter, HoldingsChannel reports. 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 have also recently bought and sold shares of INFY. GAMMA Investing LLC purchased a new position in Infosys in the 4th quarter worth about $36,000. JFS Wealth Advisors LLC increased its stake in Infosys by 88.3% in the 3rd quarter. JFS Wealth Advisors LLC now owns 2,945 shares of the technology company’s stock worth $50,000 after purchasing an additional 1,381 shares in the last quarter. Planned Solutions Inc. purchased a new position in Infosys in the 4th quarter worth about $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Infosys in the 3rd quarter worth about $85,000. Finally, Blue Trust Inc. grew its stake in 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 acquiring an additional 3,606 shares in the last quarter. 10.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on INFY shares. Bank of America upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a report on Tuesday, April 9th. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Guggenheim assumed coverage on Infosys in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 target price on the stock. UBS Group raised Infosys from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 3rd. Finally, BNP Paribas started coverage on Infosys in a research report on Wednesday, January 17th. They issued an “outperform” rating and a $24.00 target price on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $19.27.

Infosys Price Performance

Shares of Infosys stock traded up $0.13 during midday trading on Thursday, hitting $16.90. 3,267,730 shares of the company were exchanged, compared to its average volume of 9,583,753. The firm has a market cap of $69.95 billion, a P/E ratio of 22.03, a PEG ratio of 2.24 and a beta of 0.95. Infosys Limited has a 52 week low of $14.98 and a 52 week high of $20.74. The firm has a 50 day simple moving average of $18.29 and a 200-day simple moving average of $18.32.

Infosys (NYSE:INFY) last posted its 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 business 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 quarter last year, the company earned $0.18 EPS. Equities research analysts expect that Infosys Limited will post 0.75 earnings per share for the current 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.