Simplicity Solutions LLC Increases Stock Position in Infosys Limited (NYSE:INFY)

Simplicity Solutions LLC grew its position in Infosys Limited (NYSE:INFY) by 10.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,156 shares of the technology company’s stock after purchasing an additional 2,251 shares during the period. Simplicity Solutions LLC’s holdings in Infosys were worth $426,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its holdings in Infosys by 15.2% during the third quarter. FMR LLC now owns 24,819,637 shares of the technology company’s stock worth $424,664,000 after buying an additional 3,275,485 shares during the last quarter. State Street Corp boosted its position in shares of Infosys by 9.2% in the first quarter. State Street Corp now owns 20,400,397 shares of the technology company’s stock valued at $355,709,000 after acquiring an additional 1,722,731 shares during the period. BlackRock Inc. boosted its position in shares of Infosys by 11.8% in the first quarter. BlackRock Inc. now owns 17,115,250 shares of the technology company’s stock valued at $298,490,000 after acquiring an additional 1,810,239 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Infosys in the third quarter valued at approximately $158,356,000. Finally, Vanguard Group Inc. boosted its position in shares of Infosys by 1.6% in the first quarter. Vanguard Group Inc. now owns 9,239,937 shares of the technology company’s stock valued at $229,982,000 after acquiring an additional 149,668 shares during the period. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Infosys Trading Down 2.6 %

Shares of Infosys stock opened at $16.52 on Friday. The company’s fifty day simple moving average is $18.87 and its two-hundred day simple moving average is $18.34. The company has a market cap of $68.36 billion, a P/E ratio of 23.26, a PEG ratio of 2.25 and a beta of 0.93. Infosys Limited has a 12-month low of $14.71 and a 12-month high of $20.74.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on INFY shares. UBS Group upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 3rd. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Wedbush restated an “outperform” rating and issued a $22.00 price objective on shares of Infosys in a report on Wednesday, March 13th. Guggenheim began coverage on shares of Infosys in a report on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 price objective for the company. Finally, BNP Paribas began coverage on shares of Infosys in a research note on Wednesday, January 17th. They issued an “outperform” rating and a $24.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.76.

About Infosys

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.