Mackenzie Financial Corp Buys 91,101 Shares of Infosys Limited (NYSE:INFY)

Mackenzie Financial Corp increased its holdings in shares of Infosys Limited (NYSE:INFY) by 299.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 121,487 shares of the technology company’s stock after acquiring an additional 91,101 shares during the quarter. Mackenzie Financial Corp’s holdings in Infosys were worth $2,233,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. HB Wealth Management LLC lifted its holdings in Infosys by 5.7% during the fourth quarter. HB Wealth Management LLC now owns 10,661 shares of the technology company’s stock worth $196,000 after acquiring an additional 575 shares during the period. Marshall Financial Group LLC lifted its holdings in Infosys by 1.2% during the fourth quarter. Marshall Financial Group LLC now owns 52,478 shares of the technology company’s stock worth $965,000 after acquiring an additional 622 shares during the period. Knights of Columbus Asset Advisors LLC increased its position in Infosys by 3.2% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 22,100 shares of the technology company’s stock worth $378,000 after buying an additional 680 shares during the last quarter. Drive Wealth Management LLC increased its position in Infosys by 6.1% in the fourth quarter. Drive Wealth Management LLC now owns 12,354 shares of the technology company’s stock worth $227,000 after buying an additional 707 shares during the last quarter. Finally, Bank Pictet & Cie Asia Ltd. increased its position in Infosys by 0.7% in the third quarter. Bank Pictet & Cie Asia Ltd. now owns 97,812 shares of the technology company’s stock worth $1,674,000 after buying an additional 724 shares during the last quarter. 10.89% of the stock is currently owned by institutional investors.

Infosys Stock Down 0.7 %

Infosys stock opened at $17.18 on Wednesday. Infosys Limited has a 52 week low of $14.71 and a 52 week high of $20.74. The business has a 50-day simple moving average of $18.69 and a 200 day simple moving average of $18.34. The stock has a market cap of $71.09 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 2.21 and a beta of 0.93.

Infosys (NYSE:INFY) last posted its earnings results on Thursday, April 18th. The technology company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. Infosys had a return on equity of 32.33% and a net margin of 17.06%. The business had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same period in the previous year, the business earned $0.18 earnings per share. On average, research analysts anticipate that Infosys Limited will post 0.76 earnings per share for the current year.

Wall Street Analyst Weigh In

INFY has been the subject of a number of recent research reports. BNP Paribas initiated coverage on Infosys in a research report on Wednesday, January 17th. They issued an “outperform” rating and a $24.00 target price for the company. BMO Capital Markets decreased their target price 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. JPMorgan Chase & Co. raised Infosys from a “neutral” rating to an “overweight” rating in a research report on Wednesday, January 3rd. UBS Group raised Infosys from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 3rd. Finally, Susquehanna reduced their price target on Infosys from $15.00 to $14.00 and set a “negative” 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 assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Infosys currently has an average rating of “Hold” and an average target price of $19.27.

Infosys 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 application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.