Van ECK Associates Corp Raises Stock Position in Infosys Limited (NYSE:INFY)

Van ECK Associates Corp grew its position in shares of Infosys Limited (NYSE:INFY - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 429,959 shares of the technology company's stock after purchasing an additional 11,658 shares during the quarter. Van ECK Associates Corp's holdings in Infosys were worth $9,425,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Infosys by 1.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,393,557 shares of the technology company's stock valued at $31,521,000 after purchasing an additional 19,440 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in Infosys by 3.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 54,564 shares of the technology company's stock valued at $1,196,000 after acquiring an additional 1,755 shares during the period. Advisory Resource Group grew its stake in Infosys by 6.3% in the 4th quarter. Advisory Resource Group now owns 50,585 shares of the technology company's stock valued at $1,109,000 after acquiring an additional 3,007 shares during the period. Vest Financial LLC acquired a new stake in Infosys in the 4th quarter valued at $224,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Infosys by 25.0% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,000 shares of the technology company's stock valued at $329,000 after acquiring an additional 3,000 shares during the period. 16.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on INFY. HSBC raised shares of Infosys from a "hold" rating to a "buy" rating in a research note 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. Guggenheim reissued a "neutral" rating on shares of Infosys in a research note on Friday, January 17th. Finally, Hsbc Global Res raised shares of Infosys from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 9th. 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 MarketBeat, Infosys presently has a consensus rating of "Hold" and an average price target of $20.22.

Infosys Stock Performance

Shares of INFY stock traded up $0.14 on Thursday, hitting $21.35. 10,776,604 shares of the stock traded hands, compared to its average volume of 9,798,313. The firm's 50-day moving average price is $22.22 and its two-hundred day moving average price is $22.30. The stock has a market capitalization of $88.41 billion, a PE ratio of 27.02, a PEG ratio of 3.51 and a beta of 1.00. Infosys Limited has a twelve month low of $16.04 and a twelve month high of $23.63.

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, 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 quarter in the previous year, the business posted $0.18 EPS. On average, equities research analysts anticipate that Infosys Limited will post 0.74 EPS for the current fiscal year.

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.