Brookstone Capital Management Invests $283,000 in Infosys Limited (NYSE:INFY)

Brookstone Capital Management bought a new stake in Infosys Limited (NYSE:INFY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,715 shares of the technology company’s stock, valued at approximately $283,000.

A number of other large investors have also added to or reduced their stakes in INFY. Canada Pension Plan Investment Board raised its holdings in shares of Infosys by 37.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock valued at $401,826,000 after buying an additional 5,862,144 shares in the last quarter. Millennium Management LLC raised its stake in shares of Infosys by 67.9% during the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock worth $141,532,000 after acquiring an additional 3,074,432 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Infosys by 106.1% in the 1st 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 in the last quarter. Wellington Management Group LLP grew its holdings in shares of Infosys by 539.8% during the 4th 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 last quarter. Finally, Daiwa Securities Group Inc. raised its position in Infosys by 46.0% in the 2nd 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 during the period. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Infosys Trading Up 1.9 %

Shares of NYSE INFY opened at $23.37 on Tuesday. The firm has a fifty day simple moving average of $22.54 and a two-hundred day simple moving average of $19.86. Infosys Limited has a 12 month low of $16.04 and a 12 month high of $23.48. The firm has a market capitalization of $96.75 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 3.68 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 EPS for the quarter, hitting the consensus estimate 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 analyst estimates of $4.67 billion. During the same period last year, the business posted $0.17 earnings per share. On average, sell-side analysts predict that Infosys Limited will post 0.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. StockNews.com upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Finally, Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Infosys presently has an average rating of “Hold” and an average price target of $19.68.

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.