Summit Global Investments Has $3.07 Million Holdings in Infosys Limited (NYSE:INFY)

Summit Global Investments grew its position in Infosys Limited (NYSE:INFY) by 9.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 139,926 shares of the technology company’s stock after purchasing an additional 12,271 shares during the quarter. Summit Global Investments’ holdings in Infosys were worth $3,067,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Infosys by 1,668.3% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,228,211 shares of the technology company’s stock valued at $75,470,000 after purchasing an additional 3,045,656 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Infosys during the third quarter worth $36,039,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Infosys by 6.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 25,841,022 shares of the technology company’s stock valued at $566,435,000 after acquiring an additional 1,501,039 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Infosys by 1,606.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,454,437 shares of the technology company’s stock valued at $32,143,000 after acquiring an additional 1,369,210 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Infosys by 9.7% in the third quarter. Fisher Asset Management LLC now owns 14,415,018 shares of the technology company’s stock valued at $321,022,000 after acquiring an additional 1,271,890 shares in the last quarter. Institutional investors own 16.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a report on Thursday. Guggenheim reiterated a “neutral” rating on shares of Infosys in a research report on Friday, January 17th. HSBC raised Infosys from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. CLSA raised Infosys from a “hold” rating to an “outperform” rating in a report on Friday, March 7th. Finally, Hsbc Global Res upgraded Infosys from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.70.

Infosys Price Performance

Shares of NYSE:INFY opened at $18.34 on Friday. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.81. The stock has a market capitalization of $75.96 billion, a price-to-earnings ratio of 23.21, a price-to-earnings-growth ratio of 3.50 and a beta of 1.01. The company’s 50 day simple moving average is $20.81 and its 200 day simple moving average is $21.91.

Infosys (NYSE:INFY) last posted its quarterly earnings data on Thursday, January 16th. The technology company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. Infosys had a return on equity of 31.60% and a net margin of 17.28%. During the same period last year, the firm posted $0.18 earnings per share. As a group, analysts anticipate that Infosys Limited will post 0.74 EPS for the current fiscal year.

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.