Profund Advisors LLC Increases Stake in Infosys Limited (NYSE:INFY)

Profund Advisors LLC boosted its holdings in Infosys Limited (NYSE:INFY) by 8.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 96,829 shares of the technology company’s stock after purchasing an additional 7,640 shares during the quarter. Profund Advisors LLC’s holdings in Infosys were worth $1,803,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Sei Investments Co. grew its holdings in Infosys by 2.2% in the second quarter. Sei Investments Co. now owns 1,038,666 shares of the technology company’s stock worth $19,340,000 after purchasing an additional 21,961 shares during the period. Canada Pension Plan Investment Board grew its holdings in Infosys by 37.3% in the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock worth $401,826,000 after purchasing an additional 5,862,144 shares during the period. Seven Eight Capital LP grew its holdings in Infosys by 308.7% in the second quarter. Seven Eight Capital LP now owns 362,968 shares of the technology company’s stock worth $6,758,000 after purchasing an additional 274,160 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in Infosys by 24.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 28,718 shares of the technology company’s stock worth $535,000 after purchasing an additional 5,642 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its holdings in Infosys by 2.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock worth $328,000 after purchasing an additional 505 shares during the period. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INFY. Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.27.

Infosys Stock Up 0.7 %

Shares of Infosys stock opened at $22.85 on Monday. The company has a market cap of $94.60 billion, a price-to-earnings ratio of 30.07, a price-to-earnings-growth ratio of 3.63 and a beta of 0.99. The company’s 50 day moving average is $22.23 and its 200 day moving average is $19.40. Infosys Limited has a twelve month low of $16.04 and a twelve month high of $23.48.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.67 billion. Infosys had a net margin of 17.18% and a return on equity of 32.01%. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Sell-side analysts expect that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides digital marketing and digital workplace, digital commerce, digital experience and interactions, metaverse, data analytics and AI, applied AI, generative AI, sustainability, blockchain, engineering, Internet of Things, enterprise agile DevOps, application modernization, cloud, digital process automation, digital supply chain, Microsoft business application and cloud business, service experience transformation, energy transition, cyber security, and quality engineering solutions; Oracle, SAP, and Saleforce solutions; API economy and microservices; and Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies.