Fidelity Management & Research Co recently announced the acquisition of new stake in Infosys Limited (NYSE:INFY). The institutional investor has increased its shareholding in the Technology company by 20.44% to 33.09 million shares with purchase of 5.62 million shares. This fresh investment now brings its stake to 0.79% valued currently at $619.78 million. In addition, JPMorgan Investment Management, I raised its holdings by 0.74 million to 30.56 million shares. And First Trust Advisors LP has lifted its position by 69.36% or 9.54 million shares – to 23.29 million shares.
With over 5.45 million Infosys Limited (INFY) shares trading Tuesday and a closing price of $19.71 on the day, the dollar volume was approximately $107.43 million. The shares have shown a positive half year performance of 4.51% and its price on 11/29/22 gained nearly 0.41%. Currently, there are 4.19B common shares owned by the public and among those 3.56B shares have been available to trade.
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The top 3 mutual fund holders in Infosys Limited are Fidelity Inv. Trust – Emerging Ma, First Trust NASDAQ Cybersecurity, and GQG Partners Emerging Markets Equ. Fidelity Inv. Trust – Emerging Ma owns 16.73 million shares of the company’s stock, all valued at over $313.3 million. The company bought an additional 0.1 million shares recently to bring their total holdings to about 0.40% of the shares outstanding. First Trust NASDAQ Cybersecurity sold 6816.0 shares to see its total holdings shrink to 16.73 million shares valued at over $313.29 million and representing 0.40% of the shares outstanding. GQG Partners Emerging Markets Equ sold -6.09 million shares to bring its total holdings to over 8.78 million shares at a value of $164.51 million. GQG Partners Emerging Markets Equ now owns shares totaling to 0.21% of the shares outstanding.
Shares of Infosys Limited (NYSE: INFY) opened at $19.72, up $0.09 from a prior closing price of $19.63. However, the script later moved the day high at 19.89, up 0.41%. The company’s stock has a 5-day price change of 2.12% and 6.95% over the past three months. INFY shares are trading -22.13% year to date (YTD), with the 12-month market performance down to -12.86% lower. It has a 12-month low price of $16.39 and touched a high of $26.39 over the same period. INFY has an average intraday trading volume of 9.48 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.92%, 8.29%, and -0.74% respectively.
Institutional ownership of Infosys Limited (NYSE: INFY) shares accounts for 14.30% of the company’s 4.19B shares outstanding. Mutual fund holders own 6.49%, while other institutional holders and individual stakeholders account for 7.43% and — respectively.
It has a market capitalization of $82.14B and a beta (3y monthly) value of 0.97. The stock’s trailing 12-month PE ratio is 29.55, while the earnings-per-share (ttm) stands at $0.67. The company has a PEG of 2.00 and a Quick Ratio of 2.00 with the debt-to-equity ratio at 0.08. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.24% over the week and 1.52% over the month.
Analysts forecast that Infosys Limited (INFY) will achieve an EPS of $0.19 for the current quarter, $0.19 for the next quarter and $0.82 for 2024. The lowest estimate earnings-per-share for the quarter is $0.18 while analysts give the company a high EPS estimate of $0.2. Comparatively, EPS for the current quarter was $0.18 a year ago. Earnings per share for the fiscal year are expected to increase by 15.10%, and 14.60% over the next financial year. EPS should grow at an annualized rate of 14.80% over the next five years, compared to 10.80% over the past 5-year period.
Looking at the support for the INFY, a number of firms have released research notes about the stock. Susquehanna stated their Neutral rating for the stock in a research note on September 16, 2022, with the firm’s price target at $29-$20. Macquarie on their part issued Outperform rating on April 11, 2022.
