Federated Hermes Inc. Raises Holdings in Infosys Limited (NYSE:INFY)

Federated Hermes Inc. lifted its stake in Infosys Limited (NYSE:INFY) by 24.7% during the second quarter, Holdings Channel reports. The institutional investor owned 467,207 shares of the technology company’s stock after acquiring an additional 92,458 shares during the quarter. Federated Hermes Inc.’s holdings in Infosys were worth $8,699,000 as of its most recent filing with the Securities & Exchange Commission.

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

Infosys Stock Performance

NYSE:INFY opened at $22.97 on Wednesday. Infosys Limited has a one year low of $16.04 and a one year high of $23.48. The stock has a market cap of $95.09 billion, a PE ratio of 30.22, a P/E/G ratio of 3.63 and a beta of 0.99. The stock has a 50 day moving average price of $22.06 and a 200 day moving average price of $19.34.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, July 18th. The technology company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Infosys had a return on equity of 32.01% and a net margin of 17.18%. The firm had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter last year, the firm earned $0.17 earnings per share. As a group, analysts predict that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

INFY has been the topic of a number of recent analyst reports. StockNews.com upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, Macquarie upgraded 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 assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.27.

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.