Migdal Insurance & Financial Holdings Ltd. Grows Position in Infosys Limited (NYSE:INFY)

Migdal Insurance & Financial Holdings Ltd. raised its position in Infosys Limited (NYSE:INFY) by 54.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,088 shares of the technology company’s stock after purchasing an additional 28,179 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Infosys were worth $1,486,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FWL Investment Management LLC bought a new stake in shares of Infosys during the fourth quarter worth $27,000. JFS Wealth Advisors LLC boosted its position in Infosys by 88.3% in the 3rd quarter. JFS Wealth Advisors LLC now owns 2,945 shares of the technology company’s stock valued at $50,000 after buying an additional 1,381 shares during the period. Planned Solutions Inc. bought a new position in Infosys in the 4th quarter worth about $50,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Infosys during the third quarter worth approximately $85,000. Finally, Natixis bought a new stake in shares of Infosys during the fourth quarter valued at approximately $110,000. Institutional investors own 10.89% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. raised Infosys from a “neutral” rating to an “overweight” rating in a research note on Wednesday, January 3rd. Wedbush reissued an “outperform” rating and set a $22.00 price target on shares of Infosys in a research report on Wednesday, March 13th. UBS Group upgraded Infosys from a “neutral” rating to a “buy” rating in a report on Wednesday, January 3rd. HSBC upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Finally, Guggenheim began coverage on shares of Infosys in a report on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 price target for the company. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Infosys has an average rating of “Moderate Buy” and an average target price of $20.76.

Infosys Price Performance

INFY opened at $16.94 on Thursday. The firm has a market capitalization of $70.12 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 2.25 and a beta of 0.93. The business’s 50-day moving average is $18.94 and its two-hundred day moving average is $18.35. Infosys Limited has a 1 year low of $14.71 and a 1 year high of $20.74.

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 application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.