Prudential Financial Inc. Has $12.39 Million Holdings in Infosys Ltd (INFY)

Prudential Financial Inc. grew its position in Infosys Ltd (NYSE:INFY) by 25.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,218,482 shares of the technology company’s stock after purchasing an additional 244,105 shares during the period. Prudential Financial Inc.’s holdings in Infosys were worth $12,392,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fisher Asset Management LLC increased its position in shares of Infosys by 90.7% during the third quarter. Fisher Asset Management LLC now owns 41,232,613 shares of the technology company’s stock worth $419,336,000 after acquiring an additional 19,614,497 shares in the last quarter. Comgest Global Investors S.A.S. increased its position in shares of Infosys by 34.2% during the third quarter. Comgest Global Investors S.A.S. now owns 35,080,350 shares of the technology company’s stock worth $356,768,000 after acquiring an additional 8,938,309 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Infosys by 97.3% during the third quarter. Russell Investments Group Ltd. now owns 18,033,965 shares of the technology company’s stock worth $183,071,000 after acquiring an additional 8,892,472 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Infosys by 203.9% during the third quarter. Acadian Asset Management LLC now owns 11,499,954 shares of the technology company’s stock worth $116,952,000 after acquiring an additional 7,715,822 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Infosys by 22.6% during the second quarter. Bank of New York Mellon Corp now owns 17,353,458 shares of the technology company’s stock worth $337,179,000 after acquiring an additional 3,203,387 shares in the last quarter. Institutional investors own 18.19% of the company’s stock.

Several brokerages have recently issued reports on INFY. Morgan Stanley downgraded shares of Infosys from an “overweight” rating to a “hold” rating in a research report on Monday, August 20th. ValuEngine downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Robert W. Baird raised their target price on shares of Infosys from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, September 14th. Goldman Sachs Group downgraded shares of Infosys from a “buy” rating to a “neutral” rating and set a $11.00 target price for the company. in a research report on Wednesday, October 17th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $11.00 target price on shares of Infosys in a research report on Wednesday, October 17th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $14.63.

Shares of INFY opened at $9.86 on Monday. Infosys Ltd has a one year low of $7.49 and a one year high of $10.65. The stock has a market capitalization of $42.85 billion, a PE ratio of 19.72, a PEG ratio of 1.89 and a beta of 0.42.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Tuesday, October 16th. The technology company reported $0.13 EPS for the quarter, meeting analysts’ consensus estimates of $0.13. Infosys had a net margin of 21.94% and a return on equity of 24.56%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the firm posted $0.13 EPS. On average, sell-side analysts expect that Infosys Ltd will post 0.52 earnings per share for the current year.

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About Infosys

Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.

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Institutional Ownership by Quarter for Infosys (NYSE:INFY)

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