Bank Pictet & Cie Europe AG Buys 8,716 Shares of Infosys Limited (NYSE:INFY)

Bank Pictet & Cie Europe AG grew its stake in Infosys Limited (NYSE:INFY) by 48.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,566 shares of the technology company’s stock after purchasing an additional 8,716 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Infosys were worth $485,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Jones Financial Companies Lllp boosted its holdings in shares of Infosys by 15.9% in the 4th quarter. Jones Financial Companies Lllp now owns 7,520 shares of the technology company’s stock worth $165,000 after acquiring an additional 1,030 shares in the last quarter. Fullerton Fund Management Co Ltd. acquired a new position in shares of Infosys in the 4th quarter worth approximately $4,465,000. Farther Finance Advisors LLC boosted its holdings in shares of Infosys by 69.7% in the 4th quarter. Farther Finance Advisors LLC now owns 3,115 shares of the technology company’s stock worth $68,000 after acquiring an additional 1,279 shares in the last quarter. Union Bancaire Privee UBP SA boosted its holdings in shares of Infosys by 224.5% in the 1st quarter. Union Bancaire Privee UBP SA now owns 77,518 shares of the technology company’s stock worth $1,344,000 after acquiring an additional 53,628 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of Infosys by 5.5% in the 4th quarter. Captrust Financial Advisors now owns 22,915 shares of the technology company’s stock worth $502,000 after acquiring an additional 1,197 shares in the last quarter. 16.20% of the stock is currently owned by institutional investors.

Infosys Stock Performance

NYSE:INFY opened at $18.73 on Tuesday. The stock’s fifty day moving average price is $17.81 and its two-hundred day moving average price is $19.89. Infosys Limited has a 52-week low of $15.82 and a 52-week high of $23.63. The company has a market cap of $77.61 billion, a price-to-earnings ratio of 23.71, a P/E/G ratio of 3.50 and a beta of 0.98.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, April 17th. The technology company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $420.69 billion. Infosys had a return on equity of 31.60% and a net margin of 17.28%. During the same quarter in the prior year, the business posted $0.23 EPS. On average, equities analysts predict that Infosys Limited will post 0.74 EPS for the current fiscal year.

Analysts Set New Price Targets

INFY has been the topic of several recent analyst reports. Stifel Nicolaus reduced their target price on Infosys from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Monday, April 21st. Susquehanna raised Infosys from a “negative” rating to a “neutral” rating and set a $17.00 target price on the stock in a report on Monday, April 14th. Investec raised Infosys from a “sell” rating to a “buy” rating in a report on Friday, April 18th. The Goldman Sachs Group downgraded Infosys from a “buy” rating to a “neutral” rating and set a $17.90 price objective on the stock. in a report on Monday, April 21st. Finally, BMO Capital Markets reduced their price objective on Infosys from $25.00 to $18.00 and set a “market perform” rating on the stock in a report on Monday, April 21st. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.48.

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.