Infosys Limited (NYSE:INFY) Shares Acquired by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. boosted its position in Infosys Limited (NYSE:INFY) by 54.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 80,088 shares of the technology company’s stock after acquiring an additional 28,179 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Infosys were worth $1,486,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in INFY. FMR LLC boosted its position in shares of Infosys by 15.2% during the 3rd quarter. FMR LLC now owns 24,819,637 shares of the technology company’s stock worth $424,664,000 after purchasing an additional 3,275,485 shares in the last quarter. State Street Corp grew its position in Infosys by 9.2% during the first quarter. State Street Corp now owns 20,400,397 shares of the technology company’s stock worth $355,709,000 after buying an additional 1,722,731 shares during the period. BlackRock Inc. grew its position in Infosys by 11.8% during the first quarter. BlackRock Inc. now owns 17,115,250 shares of the technology company’s stock worth $298,490,000 after buying an additional 1,810,239 shares during the period. Canada Pension Plan Investment Board purchased a new position in Infosys in the third quarter valued at about $158,356,000. Finally, Vanguard Group Inc. lifted its position in shares of Infosys by 1.6% during the 1st 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on INFY shares. Bank of America upgraded Infosys from a “neutral” rating to a “buy” rating in a report on Tuesday, April 9th. Guggenheim assumed coverage on Infosys in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 price target for the company. BNP Paribas began coverage on shares of Infosys in a research report on Wednesday, January 17th. They issued an “outperform” rating and a $24.00 price objective on the stock. BMO Capital Markets increased their price objective on shares of Infosys from $18.00 to $21.00 and gave the company a “market perform” rating in a research note on Friday, January 12th. Finally, StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Infosys presently has a consensus rating of “Moderate Buy” and an average price target of $20.76.

Infosys Stock Down 0.6 %

Shares of NYSE:INFY opened at $16.94 on Thursday. The company has a market capitalization of $70.12 billion, a P/E ratio of 23.86, a P/E/G ratio of 2.25 and a beta of 0.93. The stock’s fifty day simple moving average is $18.94 and its 200-day simple moving average is $18.35. Infosys Limited has a 52-week low of $14.71 and a 52-week high of $20.74.

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.