ABS Direct Equity Fund LLC Invests $2.08 Million in Infosys Limited (NYSE:INFY)

ABS Direct Equity Fund LLC acquired a new position in Infosys Limited (NYSE:INFY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 113,367 shares of the technology company’s stock, valued at approximately $2,084,000. Infosys comprises approximately 2.0% of ABS Direct Equity Fund LLC’s portfolio, making the stock its 18th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC bought a new stake in Infosys in the fourth quarter valued at about $36,000. Planned Solutions Inc. bought a new stake in shares of Infosys in the 4th quarter valued at approximately $50,000. JFS Wealth Advisors LLC raised its holdings in shares of 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 buying an additional 1,381 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Infosys during the 3rd quarter worth approximately $85,000. Finally, Blue Trust Inc. boosted its stake in Infosys by 61.8% in the 4th quarter. Blue Trust Inc. now owns 9,443 shares of the technology company’s stock valued at $161,000 after buying an additional 3,606 shares in the last quarter. Institutional investors own 10.89% of the company’s stock.

Infosys Price Performance

Shares of Infosys stock traded up $0.06 on Friday, hitting $16.93. 4,035,491 shares of the company’s stock traded hands, compared to its average volume of 12,675,121. The firm’s 50-day moving average price is $18.16 and its two-hundred day moving average price is $18.31. The stock has a market capitalization of $70.08 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 2.26 and a beta of 0.95. Infosys Limited has a one year low of $14.98 and a one year high of $20.74.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Infosys had a net margin of 17.06% and a return on equity of 32.33%. The business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same period last year, the company posted $0.18 EPS. On average, analysts forecast that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INFY has been the subject of several recent analyst reports. Guggenheim assumed coverage on Infosys in a research note on Tuesday, March 19th. They set a “neutral” rating and a $20.00 price objective for the company. Susquehanna cut their price target on shares of Infosys from $15.00 to $14.00 and set a “negative” rating for the company in a report on Friday, April 19th. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. HSBC reaffirmed a “hold” rating and set a $20.10 price objective on shares of Infosys in a report on Friday, April 19th. Finally, Wedbush reissued an “outperform” rating and issued a $22.00 target price on shares of Infosys in a report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.27.

About Infosys

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.