River & Mercantile Asset Management LLP raised its stake in Infosys Ltd (NYSE:INFY) by 100.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 513,200 shares of the technology company’s stock after buying an additional 256,600 shares during the period. River & Mercantile Asset Management LLP’s holdings in Infosys were worth $5,217,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Jefferies Group LLC bought a new position in shares of Infosys during the 3rd quarter valued at $2,254,000. Laurion Capital Management LP bought a new position in shares of Infosys during the 3rd quarter valued at $401,000. Bailard Inc. grew its holdings in shares of Infosys by 62.9% during the 3rd quarter. Bailard Inc. now owns 209,038 shares of the technology company’s stock valued at $2,126,000 after purchasing an additional 80,719 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Infosys by 164.2% during the 3rd quarter. Assetmark Inc. now owns 19,972 shares of the technology company’s stock valued at $203,000 after purchasing an additional 12,414 shares during the last quarter. Finally, New Vernon Capital Holdings II LLC grew its holdings in shares of Infosys by 100.0% during the 3rd quarter. New Vernon Capital Holdings II LLC now owns 496,778 shares of the technology company’s stock valued at $5,052,000 after purchasing an additional 248,389 shares during the last quarter. 18.19% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the stock. Morgan Stanley lowered shares of Infosys from an “overweight” rating to a “hold” rating in a report on Monday, August 20th. ValuEngine lowered shares of Infosys from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Robert W. Baird increased their target price on shares of Infosys from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, September 14th. Goldman Sachs Group lowered shares of Infosys from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a report on Wednesday, October 17th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $11.00 target price on shares of Infosys in a report on Wednesday, October 17th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Infosys currently has an average rating of “Hold” and a consensus target price of $14.63.
Infosys (NYSE:INFY) last announced its quarterly earnings results on Tuesday, October 16th. The technology company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.89 billion. Infosys had a net margin of 21.94% and a return on equity of 24.56%. During the same quarter last year, the firm earned $0.13 EPS. On average, equities analysts expect that Infosys Ltd will post 0.52 earnings per share for the current year.
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Infosys Company Profile
Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.
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