Cetera Investment Advisers Buys 7,662 Shares of Infosys Limited (NYSE:INFY)

Cetera Investment Advisers grew its holdings in shares of Infosys Limited (NYSE:INFY) by 12.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 67,625 shares of the technology company’s stock after purchasing an additional 7,662 shares during the period. Cetera Investment Advisers’ holdings in Infosys were worth $1,259,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in Infosys by 33.0% in 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 increased its stake in shares of Infosys by 50.8% in the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after purchasing an additional 1,004 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew 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 valued at $56,000 after acquiring an additional 1,693 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Infosys during the second quarter valued at approximately $162,000. Finally, Bank Pictet & Cie Europe AG purchased a new position in Infosys in the 2nd quarter worth approximately $194,000. Institutional investors own 10.89% of the company’s stock.

Analysts Set New Price Targets

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

Infosys Stock Performance

Shares of Infosys stock opened at $22.90 on Thursday. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.48. The stock has a 50 day moving average of $22.62 and a 200 day moving average of $19.91. The firm has a market capitalization of $94.80 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 3.68 and a beta of 0.99.

Infosys (NYSE:INFY) last released its earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 analyst estimates of $4.67 billion. During the same period last year, the business posted $0.17 earnings per share. Analysts forecast that Infosys Limited will post 0.75 EPS for the current 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.