Infosys Limited (NYSE:INFY) Shares Purchased by Outlook Wealth Advisors LLC

Outlook Wealth Advisors LLC raised its holdings in Infosys Limited (NYSE:INFY) by 29.5% in the first quarter, Holdings Channel.com reports. The fund owned 13,428 shares of the technology company’s stock after buying an additional 3,059 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Infosys were worth $241,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in Infosys during the fourth quarter worth $36,000. JFS Wealth Advisors LLC raised its stake in shares of Infosys by 88.3% during the 3rd quarter. JFS Wealth Advisors LLC now owns 2,945 shares of the technology company’s stock worth $50,000 after buying an additional 1,381 shares during the last quarter. Planned Solutions Inc. purchased a new stake in shares of Infosys in the 4th quarter worth about $50,000. Jones Financial Companies Lllp purchased a new stake in shares of Infosys in the 4th quarter worth about $56,000. Finally, EverSource Wealth Advisors LLC grew its stake in Infosys by 113.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,130 shares of the technology company’s stock valued at $58,000 after acquiring an additional 1,663 shares during the last quarter. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on INFY. Bank of America upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. BMO Capital Markets lowered their price target on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, April 19th. JPMorgan Chase & Co. raised shares of Infosys from a “neutral” rating to an “overweight” rating in a research report on Wednesday, January 3rd. Guggenheim assumed coverage on shares of Infosys in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 target price for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $22.00 target price on shares of Infosys in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Infosys has a consensus rating of “Hold” and an average target price of $19.27.

Infosys Stock Performance

Infosys stock traded down $0.07 during midday trading on Friday, reaching $16.94. The stock had a trading volume of 8,845,064 shares, compared to its average volume of 12,953,776. The stock’s 50-day simple moving average is $18.49 and its 200 day simple moving average is $18.32. Infosys Limited has a twelve month low of $14.98 and a twelve month high of $20.74. The stock has a market capitalization of $70.12 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 2.27 and a beta of 0.93.

Infosys (NYSE:INFY) last released its quarterly earnings data on Thursday, April 18th. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Infosys had a return on equity of 32.33% and a net margin of 17.06%. The company had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same period last year, the business posted $0.18 EPS. Equities analysts predict that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides digital marketing and digital workplace, digital commerce, digital experience and interactions, metaverse, data analytics and AI, applied AI, generative AI, sustainability, blockchain, engineering, Internet of Things, enterprise agile DevOps, application modernization, cloud, digital process automation, digital supply chain, Microsoft business application and cloud business, service experience transformation, energy transition, cyber security, and quality engineering solutions; Oracle, SAP, and Saleforce solutions; API economy and microservices; and Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies.