Cetera Investment Advisers Boosts Stake in Infosys Limited (NYSE:INFY)

Cetera Investment Advisers lifted its position in Infosys Limited (NYSE:INFY) by 12.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,625 shares of the technology company’s stock after purchasing an additional 7,662 shares during the quarter. Cetera Investment Advisers’ holdings in Infosys were worth $1,259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV grew its holdings in shares of Infosys by 2.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock worth $328,000 after acquiring an additional 505 shares during the period. GAMMA Investing LLC lifted its position in Infosys by 22.6% during the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after purchasing an additional 541 shares in the last quarter. D Orazio & Associates Inc. lifted its position in Infosys by 4.1% during the second quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock valued at $274,000 after purchasing an additional 584 shares in the last quarter. Somerset Trust Co lifted its position in shares of Infosys by 4.2% in the second quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock valued at $282,000 after acquiring an additional 611 shares in the last quarter. Finally, Seed Wealth Management Inc. increased its holdings in shares of Infosys by 5.6% in the second quarter. Seed Wealth Management Inc. now owns 18,260 shares of the technology company’s stock worth $340,000 after purchasing an additional 970 shares during the last quarter. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

Infosys Stock Performance

NYSE:INFY opened at $22.90 on Thursday. The company has a market capitalization of $94.80 billion, a price-to-earnings ratio of 30.13, a price-to-earnings-growth ratio of 3.68 and a beta of 0.99. Infosys Limited has a one year low of $16.04 and a one year high of $23.48. The stock has a 50-day simple moving average of $22.62 and a 200 day simple moving average of $19.91.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. Infosys had a net margin of 17.18% and a return on equity of 32.01%. The firm had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter last year, the company posted $0.17 earnings per share. On average, equities research analysts forecast that Infosys Limited will post 0.75 EPS for the current fiscal year.

Analysts Set New Price Targets

INFY has been the topic of several analyst reports. StockNews.com raised Infosys from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Finally, Investec downgraded Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Infosys currently has a consensus rating of “Hold” and an average target price of $19.68.

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.