AGF Management Ltd. Has $18.52 Million Stake in Infosys Limited (NYSE:INFY)

AGF Management Ltd. boosted its position in Infosys Limited (NYSE:INFY) by 214.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 994,557 shares of the technology company’s stock after buying an additional 678,659 shares during the period. AGF Management Ltd.’s holdings in Infosys were worth $18,519,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC raised its holdings in shares of Infosys by 106.1% during the first quarter. Acadian Asset Management LLC now owns 4,839,764 shares of the technology company’s stock valued at $86,764,000 after purchasing an additional 2,491,403 shares during the period. Wellington Management Group LLP raised its holdings in shares of Infosys by 539.8% during the fourth quarter. Wellington Management Group LLP now owns 2,010,636 shares of the technology company’s stock valued at $36,955,000 after purchasing an additional 1,696,378 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Infosys by 46.0% during the second quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company’s stock valued at $97,467,000 after purchasing an additional 1,648,650 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Infosys by 49.3% during the first quarter. BNP Paribas Financial Markets now owns 3,741,065 shares of the technology company’s stock valued at $67,077,000 after purchasing an additional 1,235,140 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of Infosys by 20.7% during the fourth quarter. Franklin Resources Inc. now owns 6,719,669 shares of the technology company’s stock valued at $123,508,000 after purchasing an additional 1,150,885 shares during the period. Institutional investors and hedge funds own 10.89% of the company’s stock.

Analyst Ratings Changes

INFY has been the topic of several research reports. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Finally, Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.27.

Infosys Stock Performance

Shares of INFY stock opened at $22.91 on Thursday. Infosys Limited has a 52-week low of $16.04 and a 52-week high of $23.48. The company has a 50-day simple moving average of $21.76 and a two-hundred day simple moving average of $19.25. The company has a market capitalization of $94.85 billion, a price-to-earnings ratio of 30.14, a PEG ratio of 3.57 and a beta of 0.99.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. Infosys had a net margin of 17.18% and a return on equity of 32.01%. The business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the prior year, the firm posted $0.17 EPS. On average, sell-side analysts forecast that Infosys Limited will post 0.75 EPS for the current fiscal year.

About Infosys

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.