Bessemer Group Inc. Increases Position in Infosys Ltd. $INFY

Bessemer Group Inc. increased its position in shares of Infosys Ltd. (NYSE:INFY) by 49.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,720,708 shares of the technology company’s stock after acquiring an additional 568,573 shares during the quarter. Bessemer Group Inc.’s holdings in Infosys were worth $23,248,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of Infosys by 3.9% during the 1st quarter. Bank of New York Mellon Corp now owns 697,669 shares of the technology company’s stock worth $9,426,000 after purchasing an additional 26,137 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Infosys by 46.3% in the first quarter. Geneos Wealth Management Inc. now owns 77,173 shares of the technology company’s stock valued at $1,043,000 after purchasing an additional 24,422 shares during the period. Advisors Preferred LLC purchased a new stake in shares of Infosys in the first quarter valued at $296,000. Sanctuary Advisors LLC increased its stake in Infosys by 44.7% in the first quarter. Sanctuary Advisors LLC now owns 52,213 shares of the technology company’s stock valued at $705,000 after purchasing an additional 16,133 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. increased its stake in Infosys by 56.5% in the first quarter. Hudson Edge Investment Partners Inc. now owns 4,452,990 shares of the technology company’s stock valued at $60,160,000 after purchasing an additional 1,607,300 shares during the last quarter. 16.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on INFY shares. BMO Capital Markets decreased their price target on Infosys from $20.00 to $15.00 and set a “market perform” rating on the stock in a research note on Friday, April 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Infosys in a research note on Monday, June 8th. JPMorgan Chase & Co. cut their price objective on shares of Infosys from $16.80 to $12.70 and set an “overweight” rating on the stock in a report on Wednesday, June 24th. Stifel Nicolaus set a $13.00 target price on shares of Infosys and gave the stock a “hold” rating in a research report on Thursday. Finally, TD Cowen decreased their target price on shares of Infosys from $13.00 to $10.00 and set a “hold” rating on the stock in a research report on Thursday, July 9th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Infosys has an average rating of “Hold” and an average target price of $12.50.

Infosys Stock Down 0.1%

INFY stock opened at $11.52 on Friday. The company has a market cap of $46.60 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 1.51 and a beta of 0.90. The business has a fifty day simple moving average of $11.71 and a 200-day simple moving average of $13.95. Infosys Ltd. has a 52 week low of $10.34 and a 52 week high of $30.00.

Infosys (NYSE:INFY) last issued its earnings results on Wednesday, April 1st. The technology company reported $0.23 earnings per share for the quarter. Infosys had a return on equity of 32.64% and a net margin of 16.44%.The firm had revenue of $5.04 billion for the quarter. As a group, analysts expect that Infosys Ltd. will post 0.82 earnings per share 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.