Migdal Insurance & Financial Holdings Ltd. Has $3.19 Million Position in Infosys Limited (NYSE:INFY)

Migdal Insurance & Financial Holdings Ltd. lowered its holdings in shares of Infosys Limited (NYSE:INFY) by 27.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,779 shares of the technology company’s stock after selling 55,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Infosys were worth $3,189,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of INFY. Robeco Institutional Asset Management B.V. raised its position in Infosys by 68.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock valued at $542,051,000 after buying an additional 9,923,744 shares during the last quarter. Victory Capital Management Inc. raised its position in Infosys by 6,071.1% in the 3rd quarter. Victory Capital Management Inc. now owns 4,739,830 shares of the technology company’s stock valued at $105,556,000 after buying an additional 4,663,023 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Infosys in the 3rd quarter valued at approximately $36,039,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Infosys by 186.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,186,685 shares of the technology company’s stock valued at $48,697,000 after buying an additional 1,422,814 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Infosys by 1,606.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,454,437 shares of the technology company’s stock valued at $32,143,000 after buying an additional 1,369,210 shares during the last quarter. Institutional investors and hedge funds own 16.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. BMO Capital Markets boosted their price target on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. StockNews.com raised Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. HSBC raised Infosys from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Hsbc Global Res raised Infosys from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Infosys in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Infosys presently has a consensus rating of “Hold” and an average target price of $20.22.

Infosys Trading Down 0.4 %

Shares of NYSE INFY opened at $22.22 on Friday. The stock has a 50 day moving average of $22.42 and a 200-day moving average of $22.33. The company has a market capitalization of $92.05 billion, a P/E ratio of 28.13, a P/E/G ratio of 3.60 and a beta of 1.00. Infosys Limited has a 12 month low of $16.04 and a 12 month high of $23.63.

Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, January 16th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. Infosys had a return on equity of 31.60% and a net margin of 17.28%. During the same period in the prior year, the firm posted $0.18 earnings per share. Analysts predict that Infosys Limited will post 0.74 EPS for the current fiscal year.

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.