Ellington Management Group LLC bought a new position in Infosys Ltd (NYSE:INFY) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 52,900 shares of the technology company’s stock, valued at approximately $858,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of INFY. Edge Advisors LLC increased its position in Infosys by 68.3% in the fourth quarter. Edge Advisors LLC now owns 7,394 shares of the technology company’s stock worth $119,000 after buying an additional 3,000 shares during the period. Equity Investment Corp increased its position in Infosys by 50.2% in the third quarter. Equity Investment Corp now owns 15,100 shares of the technology company’s stock worth $220,000 after buying an additional 5,050 shares during the period. Foster & Motley Inc. increased its position in Infosys by 28.2% in the fourth quarter. Foster & Motley Inc. now owns 14,628 shares of the technology company’s stock worth $237,000 after buying an additional 3,221 shares during the period. Signaturefd LLC increased its position in Infosys by 28.7% in the fourth quarter. Signaturefd LLC now owns 16,357 shares of the technology company’s stock worth $265,000 after buying an additional 3,652 shares during the period. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of Infosys during the fourth quarter valued at $271,000. 19.69% of the stock is currently owned by hedge funds and other institutional investors.
INFY has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued a “hold” rating and set a $16.00 price target on shares of Infosys in a report on Tuesday, January 16th. Zacks Investment Research raised Infosys from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Tuesday, January 16th. UBS Group lowered Infosys to a “neutral” rating in a report on Monday, February 5th. Susquehanna Bancshares reissued a “negative” rating on shares of Infosys in a report on Monday, February 5th. Finally, Bank of America raised Infosys from a “neutral” rating to a “buy” rating in a report on Tuesday, December 5th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.77.
Infosys (NYSE:INFY) last released its earnings results on Friday, January 12th. The technology company reported $0.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.25. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.74 billion. Infosys had a return on equity of 21.31% and a net margin of 22.97%. During the same period in the previous year, the company earned $0.24 earnings per share. research analysts predict that Infosys Ltd will post 1 EPS for the current fiscal year.
ILLEGAL ACTIVITY WARNING: This news story was first posted by Ticker Report and is the property of of Ticker Report. If you are accessing this news story on another site, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The legal version of this news story can be read at https://www.tickerreport.com/banking-finance/3259665/ellington-management-group-llc-buys-shares-of-52900-infosys-ltd-infy.html.
Infosys Company Profile
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.
Want to see what other hedge funds are holding INFY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Infosys Ltd (NYSE:INFY).
Receive News & Ratings for Infosys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infosys and related companies with MarketBeat.com's FREE daily email newsletter.