Arrowstreet Capital Limited Partnership Buys 4,296,291 Shares of Infosys Limited (NYSE:INFY)

Arrowstreet Capital Limited Partnership raised its position in shares of Infosys Limited (NYSE:INFY) by 118.8% in the fourth quarter, HoldingsChannel reports. The fund owned 7,912,259 shares of the technology company’s stock after acquiring an additional 4,296,291 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Infosys were worth $173,437,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Infosys by 1,668.3% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,228,211 shares of the technology company’s stock worth $75,470,000 after purchasing an additional 3,045,656 shares during the period. Public Employees Retirement System of Ohio bought a new position in Infosys during the 3rd quarter worth $36,039,000. Robeco Institutional Asset Management B.V. raised its holdings in Infosys by 6.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 25,841,022 shares of the technology company’s stock valued at $566,435,000 after acquiring an additional 1,501,039 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Infosys by 1,606.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,454,437 shares of the technology company’s stock valued at $32,143,000 after acquiring an additional 1,369,210 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Infosys by 31.3% during the 4th quarter. American Century Companies Inc. now owns 4,603,993 shares of the technology company’s stock worth $100,920,000 after purchasing an additional 1,097,105 shares in the last quarter. Institutional investors and hedge funds own 16.20% of the company’s stock.

Wall Street Analyst Weigh In

INFY has been the topic of several research reports. Hsbc Global Res raised shares of Infosys from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. CLSA upgraded shares of Infosys from a “hold” rating to an “outperform” rating in a report on Friday, March 7th. StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a report on Thursday, March 20th. Guggenheim reaffirmed a “neutral” rating on shares of Infosys in a report on Friday, January 17th. Finally, HSBC upgraded Infosys from a “hold” rating to a “buy” rating in a report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.70.

Infosys Price Performance

Shares of INFY opened at $18.17 on Monday. The business has a 50-day moving average of $20.45 and a 200-day moving average of $21.75. The company has a market capitalization of $75.26 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 3.50 and a beta of 1.01. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.63.

Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, January 16th. The technology company reported $0.19 earnings per share (EPS) for the quarter, hitting 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 last year, the business posted $0.18 earnings per share. As a group, sell-side analysts anticipate that Infosys Limited will post 0.74 EPS for the current year.

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.