Choreo LLC Takes $303,000 Position in Infosys Limited (NYSE:INFY)

Choreo LLC bought a new position in Infosys Limited (NYSE:INFY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,195 shares of the technology company’s stock, valued at approximately $303,000.

Several other hedge funds have also modified their holdings of INFY. GAMMA Investing LLC raised its stake in Infosys by 33.0% during the first quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock worth $43,000 after purchasing an additional 593 shares during the period. Hilltop National Bank boosted its holdings in Infosys by 50.8% in the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after acquiring an additional 1,004 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in Infosys during the fourth quarter valued at about $56,000. Whittier Trust Co. of Nevada Inc. increased its stake in Infosys by 126.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after acquiring an additional 1,693 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Infosys by 113.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,130 shares of the technology company’s stock worth $58,000 after purchasing an additional 1,663 shares during the period. 10.89% of the stock is owned by institutional investors and hedge funds.

Infosys Price Performance

Shares of INFY stock opened at $22.97 on Wednesday. The company’s fifty day moving average price is $22.06 and its two-hundred day moving average price is $19.34. The firm has a market capitalization of $95.09 billion, a P/E ratio of 30.22, a P/E/G ratio of 3.63 and a beta of 0.99. Infosys Limited has a 12 month low of $16.04 and a 12 month high of $23.48.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on INFY shares. StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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 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.