Quantitative Investment Management LLC Makes New $2.40 Million Investment in Infosys Ltd. $INFY

Quantitative Investment Management LLC acquired a new position in Infosys Ltd. (NYSE:INFY) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 228,368 shares of the technology company’s stock, valued at approximately $2,395,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in Infosys by 7.4% in the 1st quarter. Bank of America Corp DE now owns 6,790,666 shares of the technology company’s stock worth $91,742,000 after buying an additional 469,843 shares during the period. Lazard Asset Management LLC raised its holdings in Infosys by 17.0% during the first quarter. Lazard Asset Management LLC now owns 26,776,494 shares of the technology company’s stock valued at $361,750,000 after acquiring an additional 3,893,801 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Infosys by 8.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 6,490,358 shares of the technology company’s stock valued at $87,685,000 after acquiring an additional 521,169 shares during the period. Weiss Asset Management LP purchased a new position in shares of Infosys in the first quarter valued at about $10,708,000. Finally, Royal Bank of Canada lifted its position in shares of Infosys by 31.9% in the first quarter. Royal Bank of Canada now owns 1,156,539 shares of the technology company’s stock valued at $15,625,000 after acquiring an additional 279,954 shares in the last quarter. 16.20% of the stock is currently owned by institutional investors.

Infosys Stock Up 0.3%

Shares of INFY opened at $12.09 on Monday. The business has a fifty day moving average of $11.58 and a 200 day moving average of $12.66. The company has a market cap of $48.96 billion, a PE ratio of 14.93, a P/E/G ratio of 2.81 and a beta of 0.88. Infosys Ltd. has a 52-week low of $10.30 and a 52-week high of $30.00.

Infosys (NYSE:INFY) last posted its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Infosys had a net margin of 16.38% and a return on equity of 33.91%. The firm had revenue of $4.99 billion for the quarter, compared to the consensus estimate of $5.08 billion. As a group, research analysts anticipate that Infosys Ltd. will post 0.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Susquehanna decreased their target price on Infosys from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, July 24th. Stifel Nicolaus set a $13.00 price target on Infosys and gave the stock a “hold” rating in a research note on Thursday, July 16th. TD Cowen reaffirmed a “hold” rating and set a $9.00 price objective (down from $10.00) on shares of Infosys in a report on Friday, July 24th. Weiss Ratings cut shares of Infosys from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Finally, Wells Fargo & Company set a $11.00 target price on shares of Infosys and gave the stock an “equal weight” rating in a report on Friday, June 26th. Nine analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Infosys currently has a consensus rating of “Reduce” and an average price target of $11.63.

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. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.