Connor Clark & Lunn Investment Management Ltd. Acquires 797,152 Shares of Infosys Limited (NYSE:INFY)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Infosys Limited (NYSE:INFY - Free Report) by 36.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,983,837 shares of the technology company's stock after acquiring an additional 797,152 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.07% of Infosys worth $65,406,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in Infosys by 6,071.1% during 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 acquiring an additional 4,663,023 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Infosys by 1,668.3% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,228,211 shares of the technology company's stock valued at $75,470,000 after purchasing an additional 3,045,656 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Infosys in the third quarter worth approximately $36,039,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Infosys by 6.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 25,841,022 shares of the technology company's stock worth $566,435,000 after buying an additional 1,501,039 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Infosys by 1,606.5% during 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. 16.20% of the stock is owned by hedge funds and other institutional investors.

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Infosys Stock Performance

Shares of Infosys stock traded down $0.24 during midday trading on Thursday, hitting $18.27. The company had a trading volume of 10,913,538 shares, compared to its average volume of 10,773,926. Infosys Limited has a 52-week low of $16.04 and a 52-week high of $23.63. The stock has a market capitalization of $75.66 billion, a P/E ratio of 23.12, a P/E/G ratio of 3.50 and a beta of 1.01. The company has a 50 day moving average of $21.33 and a 200 day moving average of $22.10.

Infosys (NYSE:INFY - Get Free Report) last released its earnings results on Thursday, January 16th. The technology company reported $0.19 EPS 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 period in the previous year, the company earned $0.18 EPS. Equities research analysts forecast that Infosys Limited will post 0.74 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on INFY. HSBC upgraded shares of Infosys from a "hold" rating to a "buy" rating in a report on Monday, December 9th. CLSA raised shares of Infosys from a "hold" rating to an "outperform" rating in a research report on Friday, March 7th. Hsbc Global Res raised shares of Infosys from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 9th. Guggenheim reissued a "neutral" rating on shares of Infosys in a research note on Friday, January 17th. Finally, StockNews.com cut Infosys from a "buy" rating to a "hold" rating in a research report on Monday. Two analysts have rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $20.22.

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.