1,063,858 Shares in Infosys Ltd. $INFY Bought by Nykredit A S

Nykredit A S bought a new stake in Infosys Ltd. (NYSE:INFY) during the 2nd quarter, Holdings Channel reports. The fund bought 1,063,858 shares of the technology company’s stock, valued at approximately $11,160,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its stake in Infosys by 17.0% during the 1st quarter. Lazard Asset Management LLC now owns 26,776,494 shares of the technology company’s stock worth $361,750,000 after acquiring an additional 3,893,801 shares during the last quarter. Trinity Street Asset Management LLP increased its stake in Infosys by 45.5% in the first quarter. Trinity Street Asset Management LLP now owns 14,938,546 shares of the technology company’s stock valued at $201,820,000 after purchasing an additional 4,674,742 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Infosys by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 7,789,344 shares of the technology company’s stock valued at $105,206,000 after purchasing an additional 52,393 shares in the last quarter. Bank of America Corp DE raised its holdings in Infosys by 7.4% in the first quarter. Bank of America Corp DE now owns 6,790,666 shares of the technology company’s stock worth $91,742,000 after purchasing an additional 469,843 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Infosys by 8.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 6,490,358 shares of the technology company’s stock worth $87,685,000 after purchasing an additional 521,169 shares in the last quarter. Institutional investors own 16.20% of the company’s stock.

Infosys Price Performance

Infosys stock opened at $11.66 on Friday. The company has a market cap of $47.22 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 2.73 and a beta of 0.87. The firm has a 50-day moving average of $11.70 and a 200-day moving average of $12.56. Infosys Ltd. has a one year low of $10.30 and a one year high of $30.00.

Infosys (NYSE:INFY) last released its earnings results on Thursday, July 23rd. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Infosys had a net margin of 16.38% and a return on equity of 33.91%. The company had revenue of $4.99 billion during the quarter, compared to analyst estimates of $5.08 billion. As a group, sell-side analysts expect that Infosys Ltd. will post 0.81 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. BMO Capital Markets reissued a “market perform” rating and issued a $12.00 price target (down from $13.00) on shares of Infosys in a report on Friday, July 24th. Weiss Ratings lowered shares of Infosys from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Infosys in a research note on Monday, August 31st. Stifel Nicolaus set a $13.00 price target on Infosys and gave the company a “hold” rating in a research note on Thursday, July 16th. Finally, HSBC set a $11.47 target price on Infosys and gave the company a “hold” rating in a research note on Friday, July 24th. Nine investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Infosys currently has a consensus rating of “Reduce” and a consensus target price of $11.59.

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.