Optimist Retirement Group LLC Purchases New Holdings in Infosys Ltd. $INFY

Optimist Retirement Group LLC purchased a new position in shares of Infosys Ltd. (NYSE:INFY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 240,213 shares of the technology company’s stock, valued at approximately $2,585,000. Infosys makes up 1.1% of Optimist Retirement Group LLC’s holdings, making the stock its 26th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Greenleaf Trust increased its position in shares of Infosys by 12.1% in the third quarter. Greenleaf Trust now owns 20,704 shares of the technology company’s stock worth $223,000 after purchasing an additional 2,227 shares during the period. Hennessy Advisors Inc. acquired a new position in Infosys in the third quarter valued at about $191,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Infosys in the third quarter valued at about $110,000. ProShare Advisors LLC lifted its position in Infosys by 10.7% during the third quarter. ProShare Advisors LLC now owns 13,807 shares of the technology company’s stock worth $149,000 after purchasing an additional 1,338 shares during the period. Finally, Vise Technologies Inc. lifted its position in Infosys by 26.6% during the third quarter. Vise Technologies Inc. now owns 276,421 shares of the technology company’s stock worth $2,974,000 after purchasing an additional 58,159 shares during the period. Institutional investors own 16.20% of the company’s stock.

Infosys Stock Up 2.5%

Infosys stock opened at $12.23 on Thursday. Infosys Ltd. has a 12-month low of $10.12 and a 12-month high of $30.00. The business’s 50-day moving average price is $11.52 and its two-hundred day moving average price is $12.80. The stock has a market cap of $49.52 billion, a PE ratio of 15.10, a P/E/G ratio of 2.98 and a beta of 0.87.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Friday, October 23rd. The technology company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). The company had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.12 billion. Infosys had a net margin of 16.21% and a return on equity of 34.81%. As a group, analysts expect that Infosys Ltd. will post 0.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on INFY. TD Cowen reissued a “hold” rating and issued a $11.00 target price (up from $9.00) on shares of Infosys in a report on Monday, October 26th. CLSA downgraded shares of Infosys from an “outperform” rating to a “hold” rating in a report on Wednesday, August 19th. Susquehanna reduced their price target on shares of Infosys from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, July 24th. The Goldman Sachs Group reissued a “neutral” rating and issued a $10.40 price objective on shares of Infosys in a research note on Thursday, October 1st. Finally, HSBC set a $11.47 price objective on shares of Infosys and gave the company a “hold” rating in a research note on Friday, July 24th. Ten research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Infosys presently has an average rating of “Reduce” and an average target price of $11.79.

Infosys Company Profile

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. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.