First Trust Direct Indexing L.P. Acquires 9,642 Shares of Infosys Limited (NYSE:INFY)

First Trust Direct Indexing L.P. raised its holdings in shares of Infosys Limited (NYSE:INFY) by 11.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 92,604 shares of the technology company’s stock after purchasing an additional 9,642 shares during the period. First Trust Direct Indexing L.P.’s holdings in Infosys were worth $1,702,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC bought a new stake in Infosys in the fourth quarter valued at approximately $36,000. Planned Solutions Inc. purchased a new position in shares of Infosys during the 4th quarter valued at about $50,000. JFS Wealth Advisors LLC raised its holdings in shares of Infosys by 88.3% during the 3rd quarter. JFS Wealth Advisors LLC now owns 2,945 shares of the technology company’s stock valued at $50,000 after buying an additional 1,381 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Infosys during the 3rd quarter valued at about $85,000. Finally, Blue Trust Inc. raised its stake in Infosys by 61.8% during the fourth quarter. Blue Trust Inc. now owns 9,443 shares of the technology company’s stock valued at $161,000 after buying an additional 3,606 shares during the last quarter. 10.89% of the stock is currently owned by institutional investors and hedge funds.

Infosys Stock Down 0.2 %

NYSE:INFY traded down $0.03 on Thursday, reaching $16.74. The stock had a trading volume of 1,676,233 shares, compared to its average volume of 9,563,387. The company has a market capitalization of $69.29 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 2.24 and a beta of 0.95. The stock has a fifty day moving average price of $18.29 and a 200-day moving average price of $18.32. Infosys Limited has a 1-year low of $14.98 and a 1-year high of $20.74.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Infosys had a return on equity of 32.33% and a net margin of 17.06%. The firm had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the previous year, the business earned $0.18 earnings per share. Sell-side analysts predict that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on INFY. HSBC reiterated a “hold” rating and issued a $20.10 target price on shares of Infosys in a report on Friday, April 19th. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. BNP Paribas began coverage on Infosys in a report on Wednesday, January 17th. They set an “outperform” rating and a $24.00 target price for the company. Bank of America upgraded Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. Finally, BMO Capital Markets lowered their price target on Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.27.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides digital marketing and digital workplace, digital commerce, digital experience and interactions, metaverse, data analytics and AI, applied AI, generative AI, sustainability, blockchain, engineering, Internet of Things, enterprise agile DevOps, application modernization, cloud, digital process automation, digital supply chain, Microsoft business application and cloud business, service experience transformation, energy transition, cyber security, and quality engineering solutions; Oracle, SAP, and Saleforce solutions; API economy and microservices; and Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies.