Wealth Alliance Purchases 2,534 Shares of Infosys Limited (NYSE:INFY)

Wealth Alliance increased its position in Infosys Limited (NYSE:INFY) by 7.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,926 shares of the technology company’s stock after acquiring an additional 2,534 shares during the quarter. Wealth Alliance’s holdings in Infosys were worth $642,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Teacher Retirement System of Texas bought a new position in shares of Infosys in the third quarter worth approximately $5,047,000. Vanguard Group Inc. boosted its holdings in Infosys by 2.3% in the third quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock valued at $139,327,000 after acquiring an additional 180,888 shares in the last quarter. Rhumbline Advisers boosted its holdings in Infosys by 3.0% in the third quarter. Rhumbline Advisers now owns 908,911 shares of the technology company’s stock valued at $15,551,000 after acquiring an additional 26,833 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in Infosys by 3.3% in the fourth quarter. Baillie Gifford & Co. now owns 3,190,513 shares of the technology company’s stock valued at $58,642,000 after acquiring an additional 102,273 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Infosys by 33.9% in the third quarter. American Century Companies Inc. now owns 3,687,017 shares of the technology company’s stock valued at $63,085,000 after acquiring an additional 932,570 shares in the last quarter. 10.89% of the stock is currently owned by institutional investors.

Infosys Trading Down 0.6 %

Shares of NYSE:INFY opened at $16.94 on Thursday. Infosys Limited has a 12-month low of $14.71 and a 12-month high of $20.74. The company has a market cap of $70.12 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 2.25 and a beta of 0.93. The stock has a 50 day moving average of $18.94 and a 200 day moving average of $18.35.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Bank of America upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a report on Tuesday, April 9th. Guggenheim initiated 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. BMO Capital Markets lifted their price target on Infosys from $18.00 to $21.00 and gave the stock a “market perform” rating in a research report on Friday, January 12th. Finally, JPMorgan Chase & Co. raised Infosys from a “neutral” rating to an “overweight” rating in a research report on Wednesday, January 3rd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus 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.