Russell Investments Group Ltd. Raises Position in Infosys Limited (NYSE:INFY)

Russell Investments Group Ltd. grew its holdings in Infosys Limited (NYSE:INFY - Free Report) by 7.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,797,642 shares of the technology company's stock after buying an additional 261,417 shares during the period. Russell Investments Group Ltd. owned 0.09% of Infosys worth $83,553,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Sierra Ocean LLC purchased a new stake in Infosys during the 4th quarter valued at approximately $29,000. Brooklyn Investment Group purchased a new stake in shares of Infosys during the fourth quarter worth approximately $52,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Infosys during the third quarter worth $57,000. Farther Finance Advisors LLC grew its position in Infosys by 69.7% in the 4th quarter. Farther Finance Advisors LLC now owns 3,115 shares of the technology company's stock valued at $68,000 after buying an additional 1,279 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Infosys by 14.2% in 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 period. Institutional investors and hedge funds own 16.20% of the company's stock.

Infosys Stock Down 0.9 %

Shares of INFY traded down $0.15 on Friday, reaching $16.84. The stock had a trading volume of 6,409,190 shares, compared to its average volume of 9,654,217. The firm has a 50-day moving average of $19.51 and a 200 day moving average of $21.34. The firm has a market capitalization of $69.73 billion, a PE ratio of 21.34, a PEG ratio of 3.50 and a beta of 0.97. Infosys Limited has a twelve month low of $16.04 and a twelve month high of $23.63.

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Infosys (NYSE:INFY - Get Free Report) last released its quarterly earnings results on Thursday, January 16th. The technology company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. Infosys had a net margin of 17.28% and a return on equity of 31.60%. During the same period last year, the firm earned $0.18 EPS. On average, sell-side analysts anticipate that Infosys Limited will post 0.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

INFY has been the subject of several recent analyst reports. StockNews.com upgraded shares of Infosys from a "hold" rating to a "buy" rating in a research note on Monday. CLSA raised shares of Infosys from a "hold" rating to an "outperform" rating in a report on Friday, March 7th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Infosys in a report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $19.70.

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.