Summit Global Investments Acquires 12,271 Shares of Infosys Limited (NYSE:INFY)

Summit Global Investments raised its stake in Infosys Limited (NYSE:INFY) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 139,926 shares of the technology company’s stock after buying an additional 12,271 shares during the quarter. Summit Global Investments’ holdings in Infosys were worth $3,067,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in INFY. Robeco Institutional Asset Management B.V. lifted its position in Infosys by 6.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 25,841,022 shares of the technology company’s stock valued at $566,435,000 after acquiring an additional 1,501,039 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Infosys by 0.7% in the fourth quarter. Fisher Asset Management LLC now owns 14,517,359 shares of the technology company’s stock valued at $318,221,000 after purchasing an additional 102,341 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Infosys by 2.9% during the third quarter. Franklin Resources Inc. now owns 11,272,051 shares of the technology company’s stock worth $263,315,000 after buying an additional 322,648 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Infosys by 5.1% during the third quarter. BNP Paribas Financial Markets now owns 6,072,537 shares of the technology company’s stock worth $135,235,000 after buying an additional 297,183 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Infosys by 11.8% during the third quarter. Daiwa Securities Group Inc. now owns 5,852,900 shares of the technology company’s stock worth $130,344,000 after buying an additional 618,400 shares in the last quarter. Institutional investors and hedge funds own 16.20% of the company’s stock.

Analyst Upgrades and Downgrades

INFY has been the subject of a number of recent research reports. Guggenheim reaffirmed a “neutral” rating on shares of Infosys in a research report on Friday, January 17th. HSBC upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Monday, December 9th. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a research report on Thursday. Hsbc Global Res upgraded Infosys from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. Finally, CLSA raised Infosys from a “hold” rating to an “outperform” rating in a research report on Friday, March 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $19.70.

Infosys Price Performance

Infosys stock opened at $18.34 on Friday. The company’s 50-day moving average is $20.81 and its 200-day moving average is $21.91. The firm has a market capitalization of $75.96 billion, a PE ratio of 23.21, a P/E/G ratio of 3.50 and a beta of 1.01. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.81.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, January 16th. The technology company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. Infosys had a return on equity of 31.60% and a net margin of 17.28%. During the same quarter in the prior year, the firm earned $0.18 EPS. As a group, analysts expect that Infosys Limited will post 0.74 EPS for the current year.

About Infosys

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.