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Manufacturers’ Life Insurance Company reduced its holding in Infosys Limited (NYSE:INFY – Get Rating) by 14.1% in the third quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The company owned 280,276 shares in the technology company after selling 45,846 of his shares during the quarter. Infosys’ assets held by Manufacturers’ Life Insurance Company were valued at $4,756,000 as of the latest SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares in the company. Nomura Holdings Inc. increased his Infosys stake by 27.8% in the second quarter. Nomura Holdings now owns 206,175 shares in the technology company worth $3,837,000 after he bought an additional 44,789 shares during the previous quarter. Schubert & Co bought a new stake in Infosys worth about $31,000 in the second quarter. Echo Street Capital Management LLC increased his Infosys stake by 134.5% in the second quarter. Echo Street Capital Management LLC owns 38,203 shares of technology company stock valued at $707,000 after purchasing an additional 21,911 shares during the previous quarter. Twin Tree Management LP purchased new Infosys stock worth approximately $148,000 in the second quarter. Finally, FMR LLC increased his Infosys shareholding by 20.3% in the second quarter. FMR LLC now owns 29,344,087 shares of technology companies valued at $543,159,000 after purchasing an additional 4,956,478 shares during the previous quarter. Institutional investors own 12.68% of the company’s shares.
Wall Street Analyst Predicts Growth
Several equity research analysts have been putting a lot of weight on equities lately. StockNews.com lowered its rating on Infosys stock from ‘buy’ to ‘hold’ in a report on Monday. In a report on Friday, Oct. 14, Cowen lowered his price target on Infosys stock from $19.00 to $18.00, setting a “market execution” rating for the stock. Cowen lowered his price target on Infosys stock from $19.00 to $18.00 in a report on Friday, October 14, setting a “market execution” rating for the stock. BMO Capital Markets raised its price target for Infosys stock from $20.00 to $21.00 in a report on Friday, January 13, giving the stock a “Market Performance” rating. Finally, Investec upgraded Infosys’ stock from a ‘hold’ rating to a ‘buy’ rating in his Friday Oct. 14 report. He has one investment analyst with a sell rating, eight with a hold rating, and four with a buy rating for the company. Based on MarketBeat data, the stock has a consensus rating of “Hold” and a consensus target price of $21.19.
Infosys Trading 0.2% increase
Infosys shares opened at $18.69 on Tuesday. The company has a market capitalization of $78.64 billion, a PE ratio of 26.32, a PEG ratio of 2.61 and a beta of 1.01. The company has a 50-day moving average of $18.70 and a 200-day moving average of $18.61. Infosys Limited has a one-year low of $16.39 and a one-year high of $25.20.
Infosys (NYSE:INFY – Get Rating) last reported quarterly results on Thursday, January 12. The tech company reported that he earned $0.19 per share for the quarter, meeting analyst consensus expectations of $0.19. The business had revenue of $4.66 billion in the quarter, compared to consensus expectations of $4.66 billion. Infosys had a net profit margin of 16.66% and a return on equity of 31.23%. For the same period last year, the company posted his EPS of $0.18. Research analysts expect Infosys Limited to post 0.72 EPS for the year.
Infosys profile
(get rating)
Infosys Ltd. is a digital services and consulting company engaged in providing end-to-end business solutions. It operates through financial services, retail, telecommunications, energy, utilities, resources, services, manufacturing, high tech, life sciences, and all other segments.
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