Ethic Inc. Buys 66,430 Shares of Infosys Ltd. $INFY

Ethic Inc. increased its stake in shares of Infosys Ltd. (NYSE:INFY) by 26.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 319,595 shares of the technology company’s stock after buying an additional 66,430 shares during the quarter. Ethic Inc.’s holdings in Infosys were worth $3,439,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Confluence Investment Management LLC increased its position in Infosys by 5.5% in the third quarter. Confluence Investment Management LLC now owns 18,601 shares of the technology company’s stock worth $200,000 after buying an additional 965 shares during the period. Pictet Asset Management Holding SA lifted its stake in Infosys by 2.0% in the third quarter. Pictet Asset Management Holding SA now owns 52,785 shares of the technology company’s stock valued at $568,000 after buying an additional 1,049 shares during the last quarter. TD Waterhouse Canada Inc. boosted its holdings in shares of Infosys by 14.2% during the second quarter. TD Waterhouse Canada Inc. now owns 9,090 shares of the technology company’s stock valued at $97,000 after acquiring an additional 1,131 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of Infosys by 4.5% during the second quarter. QRG Capital Management Inc. now owns 30,832 shares of the technology company’s stock valued at $323,000 after acquiring an additional 1,335 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of Infosys by 10.7% during the third quarter. ProShare Advisors LLC now owns 13,807 shares of the technology company’s stock valued at $149,000 after acquiring an additional 1,338 shares during the period. 16.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

INFY has been the subject of several recent research reports. JPMorgan Chase & Co. lowered shares of Infosys from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $12.70 to $10.90 in a research report on Friday, July 24th. Susquehanna cut their price objective on shares of Infosys from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, July 24th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $10.40 price objective on shares of Infosys in a research report on Thursday, October 1st. TD Cowen reissued a “hold” rating and set a $11.00 target price (up from $9.00) on shares of Infosys in a research note on Monday, October 26th. Finally, HSBC set a $11.47 target price on shares of Infosys and gave the stock a “hold” rating in a research report on Friday, July 24th. Ten investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Infosys has a consensus rating of “Reduce” and an average price target of $11.79.

Infosys Price Performance

Shares of INFY stock opened at $12.59 on Wednesday. Infosys Ltd. has a 12-month low of $10.12 and a 12-month high of $30.00. The firm has a market capitalization of $50.96 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 3.09 and a beta of 0.87. The business has a 50 day simple moving average of $11.57 and a 200 day simple moving average of $12.68.

Infosys (NYSE:INFY) last announced its earnings results on Friday, October 23rd. The technology company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). The business had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.12 billion. Infosys had a net margin of 16.21% and a return on equity of 34.81%. On average, equities analysts anticipate that Infosys Ltd. will post 0.81 EPS for the current fiscal year.

Infosys Profile

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. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.