OVERSEA CHINESE BANKING Corp Ltd Takes Position in Infosys Limited (NYSE:INFY)

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Infosys Limited (NYSE:INFY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 14,000 shares of the technology company’s stock, valued at approximately $307,000.

A number of other hedge funds have also recently added to or reduced their stakes in INFY. William Blair Investment Management LLC increased its holdings in shares of Infosys by 3.6% in the fourth quarter. William Blair Investment Management LLC now owns 1,713,529 shares of the technology company’s stock valued at $37,561,000 after purchasing an additional 59,200 shares during the period. Signaturefd LLC boosted its position in Infosys by 2.0% during the fourth quarter. Signaturefd LLC now owns 89,260 shares of the technology company’s stock worth $1,957,000 after purchasing an additional 1,776 shares in the last quarter. GWN Securities Inc. purchased a new stake in Infosys during the fourth quarter worth $321,000. Gitterman Wealth Management LLC purchased a new stake in Infosys during the fourth quarter worth $213,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in Infosys during the fourth quarter worth $361,000. Hedge funds and other institutional investors own 16.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on INFY shares. CLSA upgraded Infosys from a “hold” rating to an “outperform” rating in a research report on Friday, March 7th. HSBC upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Guggenheim restated a “neutral” rating on shares of Infosys in a research note on Friday, January 17th. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Hsbc Global Res raised Infosys from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.70.

Infosys Trading Down 2.8 %

Shares of NYSE INFY opened at $18.05 on Friday. The company has a market cap of $74.74 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 3.50 and a beta of 1.01. Infosys Limited has a 12-month low of $16.04 and a 12-month high of $23.81. The stock’s 50 day simple moving average is $20.90 and its 200 day simple moving average is $21.94.

Infosys (NYSE:INFY) last posted its earnings results on Thursday, January 16th. The technology company reported $0.19 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 previous year, the company posted $0.18 EPS. As a group, equities analysts forecast that Infosys Limited will post 0.74 earnings per share 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.