Optimist Retirement Group LLC Acquires 240,213 Shares of Infosys Ltd. $INFY

Optimist Retirement Group LLC acquired a new position in shares of Infosys Ltd. (NYSE:INFY) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 240,213 shares of the technology company’s stock, valued at approximately $2,585,000. Infosys comprises approximately 1.1% of Optimist Retirement Group LLC’s portfolio, making the stock its 26th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC increased its holdings in Infosys by 87.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,683 shares of the technology company’s stock worth $40,000 after purchasing an additional 1,715 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Infosys during the first quarter valued at about $97,000. TD Waterhouse Canada Inc. boosted its stake in shares of Infosys by 14.2% during the second quarter. TD Waterhouse Canada Inc. now owns 9,090 shares of the technology company’s stock valued at $97,000 after purchasing an additional 1,131 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Infosys during the third quarter worth about $110,000. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of Infosys during the second quarter worth about $115,000. Institutional investors and hedge funds own 16.20% of the company’s stock.

Infosys Trading Up 2.5%

Shares of INFY stock opened at $12.23 on Thursday. The stock has a market cap of $49.52 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 2.98 and a beta of 0.87. The stock has a 50-day moving average of $11.52 and a 200-day moving average of $12.80. Infosys Ltd. has a 1-year low of $10.12 and a 1-year high of $30.00.

Infosys (NYSE:INFY) last announced its earnings results on Friday, October 23rd. The technology company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). The company had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.12 billion. Infosys had a net margin of 16.21% and a return on equity of 34.81%. Sell-side analysts forecast that Infosys Ltd. will post 0.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

INFY has been the subject of several recent research reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $14.31 price objective (down from $20.82) on shares of Infosys in a research note on Monday, August 31st. HSBC set a $11.47 target price on shares of Infosys and gave the stock a “hold” rating in a research report on Friday, July 24th. Stifel Nicolaus set a $13.00 target price on shares of Infosys and gave the stock a “hold” rating in a report on Thursday, July 16th. TD Cowen restated a “hold” rating and issued a $11.00 price target (up from $9.00) on shares of Infosys in a research report on Monday, October 26th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $10.40 price target on shares of Infosys in a research note on Thursday, October 1st. Ten research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Infosys presently has a consensus rating of “Reduce” and a consensus target price of $11.79.

Infosys Company Profile

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.