NewEdge Wealth LLC Buys 70,350 Shares of Infosys Limited (NYSE:INFY)

NewEdge Wealth LLC grew its holdings in shares of Infosys Limited (NYSE:INFY - Free Report) by 419.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 87,105 shares of the technology company's stock after purchasing an additional 70,350 shares during the period. NewEdge Wealth LLC's holdings in Infosys were worth $1,909,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC increased its stake in Infosys by 188.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 87,794 shares of the technology company's stock valued at $1,955,000 after purchasing an additional 57,400 shares in the last quarter. abrdn plc lifted its position in Infosys by 164.4% in the 3rd quarter. abrdn plc now owns 321,227 shares of the technology company's stock valued at $7,123,000 after acquiring an additional 199,748 shares in the last quarter. Financial Advocates Investment Management boosted its stake in Infosys by 5.9% during the 3rd quarter. Financial Advocates Investment Management now owns 22,574 shares of the technology company's stock valued at $503,000 after purchasing an additional 1,262 shares during the last quarter. US Bancorp DE increased its holdings in shares of Infosys by 39.5% in the 3rd quarter. US Bancorp DE now owns 272,974 shares of the technology company's stock worth $6,079,000 after purchasing an additional 77,226 shares in the last quarter. Finally, Americana Partners LLC raised its stake in shares of Infosys by 6.0% in the third quarter. Americana Partners LLC now owns 13,723 shares of the technology company's stock worth $306,000 after purchasing an additional 776 shares during the last quarter. 16.20% of the stock is owned by institutional investors.

Infosys Price Performance

Shares of NYSE:INFY traded down $0.14 during mid-day trading on Monday, reaching $19.97. 4,764,175 shares of the company traded hands, compared to its average volume of 10,005,559. The company's 50 day moving average price is $21.88 and its 200-day moving average price is $22.28. The firm has a market cap of $82.70 billion, a PE ratio of 25.27, a PEG ratio of 3.50 and a beta of 1.00. Infosys Limited has a 52 week low of $16.04 and a 52 week high of $23.63.

Infosys (NYSE:INFY - Get Free Report) last released its earnings results on Thursday, January 16th. The technology company reported $0.19 earnings per share for the quarter, meeting analysts' consensus estimates of $0.19. Infosys had a net margin of 17.28% and a return on equity of 31.60%. During the same quarter in the previous year, the business posted $0.18 EPS. On average, research analysts predict that Infosys Limited will post 0.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on INFY shares. Hsbc Global Res raised Infosys from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 9th. StockNews.com raised shares of Infosys from a "hold" rating to a "buy" rating in a report on Wednesday, January 22nd. Guggenheim reaffirmed a "neutral" rating on shares of Infosys in a research report on Friday, January 17th. Finally, HSBC raised Infosys from a "hold" rating to a "buy" rating in a report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Infosys presently has an average rating of "Hold" and an average target price of $20.22.

Infosys 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.