Russell Investments Group Ltd. Buys 261,417 Shares of Infosys Limited (NYSE:INFY)

Russell Investments Group Ltd. raised its stake in shares of Infosys Limited (NYSE:INFY) by 7.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,797,642 shares of the technology company’s stock after acquiring an additional 261,417 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.09% of Infosys worth $83,553,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sierra Ocean LLC acquired a new stake in shares of Infosys during the 4th quarter worth approximately $29,000. Brooklyn Investment Group bought a new stake in Infosys in the fourth quarter valued at approximately $52,000. Wilmington Savings Fund Society FSB bought a new position in shares of Infosys during the third quarter worth $57,000. Farther Finance Advisors LLC increased its position in shares of Infosys by 69.7% in the 4th quarter. Farther Finance Advisors LLC now owns 3,115 shares of the technology company’s stock valued at $68,000 after buying an additional 1,279 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Infosys by 14.2% during the fourth quarter. GAMMA Investing LLC now owns 4,496 shares of the technology company’s stock worth $99,000 after purchasing an additional 560 shares during the period. 16.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Guggenheim restated a “neutral” rating on shares of Infosys in a report on Friday, January 17th. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a research report on Thursday, March 20th. Hsbc Global Res raised Infosys from a “hold” rating to a “strong-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 upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $19.70.

Infosys Price Performance

Shares of NYSE INFY opened at $16.58 on Friday. The stock’s fifty day moving average price is $20.08 and its two-hundred day moving average price is $21.57. Infosys Limited has a one year low of $16.04 and a one year high of $23.63. The firm has a market cap of $68.66 billion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 3.50 and a beta of 1.01.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, January 16th. The technology company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. Infosys had a net margin of 17.28% and a return on equity of 31.60%. During the same quarter in the prior year, the firm posted $0.18 earnings per share. On average, equities analysts anticipate that Infosys Limited will post 0.74 earnings per share 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.