Renaissance Technologies LLC Acquires New Shares in Infosys Limited (NYSE:INFY)

Renaissance Technologies LLC acquired a new stake in Infosys Limited (NYSE:INFY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 911,700 shares of the technology company's stock, valued at approximately $19,984,000.

Other hedge funds have also recently bought and sold shares of the company. BHK Investment Advisors LLC grew its stake in shares of Infosys by 2.3% in the fourth quarter. BHK Investment Advisors LLC now owns 22,785 shares of the technology company's stock valued at $499,000 after buying an additional 507 shares in the last quarter. Outlook Wealth Advisors LLC lifted its position in shares of Infosys by 2.8% in the 4th quarter. Outlook Wealth Advisors LLC now owns 18,405 shares of the technology company's stock worth $403,000 after buying an additional 508 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Infosys by 14.2% during the 4th quarter. GAMMA Investing LLC now owns 4,496 shares of the technology company's stock valued at $99,000 after buying an additional 560 shares during the last quarter. Flagship Harbor Advisors LLC lifted its holdings in Infosys by 6.2% in the fourth quarter. Flagship Harbor Advisors LLC now owns 11,026 shares of the technology company's stock worth $242,000 after acquiring an additional 641 shares during the last quarter. Finally, Atomi Financial Group Inc. grew its holdings in shares of Infosys by 1.7% during the fourth quarter. Atomi Financial Group Inc. now owns 38,263 shares of the technology company's stock valued at $839,000 after purchasing an additional 655 shares during the last quarter. Institutional investors and hedge funds own 16.20% of the company's stock.

Infosys Stock Performance

Shares of NYSE:INFY traded down $0.44 during midday trading on Friday, reaching $16.14. 20,714,101 shares of the company's stock were exchanged, compared to its average volume of 9,751,550. The firm has a market capitalization of $66.84 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 3.50 and a beta of 0.97. Infosys Limited has a 12 month low of $15.82 and a 12 month high of $23.63. The company's 50 day simple moving average is $18.97 and its two-hundred day simple moving average is $21.15.

Infosys (NYSE:INFY - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The technology company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. Infosys had a return on equity of 31.60% and a net margin of 17.28%. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $420.69 billion. During the same period in the prior year, the company earned $0.23 EPS. On average, research analysts anticipate that Infosys Limited will post 0.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

INFY has been the subject of several analyst reports. Guggenheim reissued a "neutral" rating on shares of Infosys in a report on Friday, January 17th. Susquehanna upgraded shares of Infosys from a "negative" rating to a "neutral" rating and set a $17.00 target price on the stock in a report on Monday. Stifel Nicolaus cut their price objective on Infosys from $22.00 to $18.00 and set a "hold" rating on the stock in a report on Tuesday. CLSA upgraded shares of Infosys from a "hold" rating to an "outperform" rating in a report on Friday, March 7th. Finally, StockNews.com downgraded shares of Infosys from a "buy" rating to a "hold" rating in a research note on Tuesday. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.03.

About Infosys

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.