Mirae Asset Global Investments Co. Ltd. Grows Stake in Infosys Limited (NYSE:INFY)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Infosys Limited (NYSE:INFY - Free Report) by 1,606.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,454,437 shares of the technology company's stock after acquiring an additional 1,369,210 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Infosys were worth $32,143,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mizuho Securities Co. Ltd. bought a new position in shares of Infosys in the 3rd quarter valued at $33,000. Brooklyn Investment Group bought a new position in Infosys during the fourth quarter valued at $52,000. Wilmington Savings Fund Society FSB bought a new position in Infosys in the 3rd quarter worth about $57,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Infosys by 25.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 3,795 shares of the technology company's stock worth $85,000 after purchasing an additional 766 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Infosys by 34.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,936 shares of the technology company's stock worth $88,000 after acquiring an additional 1,005 shares during the last quarter. Institutional investors own 16.20% of the company's stock.

Infosys Stock Down 1.8 %

Shares of NYSE INFY traded down $0.40 during midday trading on Friday, hitting $21.85. The company had a trading volume of 9,617,540 shares, compared to its average volume of 10,675,010. Infosys Limited has a twelve month low of $16.04 and a twelve month high of $23.63. The firm has a market capitalization of $90.48 billion, a price-to-earnings ratio of 27.65, a price-to-earnings-growth ratio of 3.64 and a beta of 1.00. The business has a 50-day simple moving average of $22.40 and a two-hundred day simple moving average of $22.33.

Infosys (NYSE:INFY - Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The technology company reported $0.19 earnings per share for the quarter, hitting 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 earnings per share. On average, equities analysts forecast that Infosys Limited will post 0.74 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on INFY shares. HSBC upgraded shares of Infosys from a "hold" rating to a "buy" rating in a report on Monday, December 9th. StockNews.com raised shares of Infosys from a "hold" rating to a "buy" rating in a research note on Wednesday, January 22nd. Hsbc Global Res upgraded Infosys from a "hold" rating to a "strong-buy" rating in a report on Monday, December 9th. BMO Capital Markets raised their price objective on Infosys from $23.00 to $25.00 and gave the stock a "market perform" rating in a research report on Friday, October 18th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Infosys in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Infosys has a consensus rating of "Hold" and a consensus 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.