Artemis Investment Management LLP, a global asset management firm, has recently reported an increase in its holdings of Infosys Limited during the second quarter of the year. According to its filing with the Securities and Exchange Commission (SEC), Artemis Investment Management LLP now owns 62,693 shares of Infosys’ stock, representing a 32.0% increase from the previous quarter.
At the end of the most recent quarter, Artemis Investment Management LLP’s holdings in Infosys were valued at $1,007,000. This significant increase in shares demonstrates their confidence and belief in the technology company’s potential for growth and profitability.
Infosys Limited is a multinational corporation that offers consulting, technology, outsourcing, and next-generation digital services across various regions including North America, Europe, India, and other international markets. The company specializes in providing application management and development services, independent validation solutions, product engineering and management, infrastructure management services, as well as traditional enterprise application implementation and support.
With its diverse range of services and global presence, Infosys is well-positioned to cater to clients’ needs in this rapidly evolving digital era. Over the years, Infosys has built a strong reputation for its expertise in technology solutions and its ability to stay ahead of industry trends.
The confidence shown by Artemis Investment Management LLP in increasing their investment in Infosys reflects positively on the company’s future prospects. As technology continues to play an increasingly crucial role in businesses worldwide, Infosys is poised to capitalize on this growing demand.
Investors are likely attracted to Infosys because of its track record of delivering innovative solutions and generating substantial returns for shareholders. This recent increase in holdings by Artemis Investment Management LLP demonstrates their recognition of Infosys’ competitive position within the industry.
As we progress further into 2023, it will be interesting to observe how this increased investment contributes to the overall performance of both Artemis Investment Management LLP and Infosys Limited. Market observers will eagerly await further updates and announcements from both parties regarding their future plans and strategies.
In conclusion, Artemis Investment Management LLP’s decision to boost its holdings in Infosys Limited showcases its confidence in the company’s potential for growth and success. With its wide range of technology services and strong market presence, Infosys is well-positioned to capitalize on the increasing demand for digital solutions. The partnership between Artemis Investment Management LLP and Infosys marks an exciting development in the technology industry, highlighting the continued value and prospects of companies operating within this sector.
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Hedge Funds and Institutional Investors Increase Holdings in Infosys Amidst Mixed Analyst Ratings
In a surprising turn of events, several hedge funds and institutional investors have made significant changes to their holdings of Infosys (NYSE: INFY), a prominent technology company. State Street Corp, for instance, has increased its stake in Infosys by an astonishing 34.6% during the first quarter of the fiscal year. Currently, State Street Corp owns a staggering 19,989,499 shares of the company’s stock with an estimated value of $497,539,000 after acquiring an additional 5,143,124 shares in the last quarter.
Likewise, JPMorgan Chase & Co. decided to uplift its position in Infosys by approximately 6.7% during the same period. The firm now possesses a substantial amount of 72,618,957 shares worth $1,266,476,000 after purchasing an additional 4,557,724 shares during the period.
The trend continues with Acadian Asset Management LLC joining the ranks of those increasing their holdings in Infosys. Acadian Asset Management LLC augmented its share count by a monumental 216.8% during the first quarter of this fiscal year. The investment management firm now holds a sizeable number of 5,425,668 shares valued at $94,608,000 after purchasing an additional 3,713,279 shares during this period.
Following suit is Bank of America Corp DE which has recently raised its stake in Infosys by a significant margin as well – approximately 53.7% higher than before. Now owning an impressive 6 318 517 shares valued at $110 195 000 after purchasing an additional 2 208 411 shares over said period.
Moreover,Hospitals Insurance Company Relations acquired new stocks from Infosys at the beginning of fiscal year worth roughly $37 599 000 making it yet another influential entity to hold some stakes in the technology conglomerate. Currently, institutional investors own about 11.39% of the Infosys stocks.
Numerous research analysts have recently issued reports on INFY shares with StockNews.com initiating coverage on Infosys and providing a “hold” rating for the company. Similarly, Wedbush reiterated an “outperform” rating and set a $22.00 target price for the shares of Infosys in a research note released on September 18th.
Nomura, another prominent financial group, previously had a “reduce” rating for Infosys but later revised it to a “neutral” rating on September 8th. Finally, The Goldman Sachs Group also initiated its coverage on Infosys recently with a “buy” rating for the company.
However, amidst these mixed reviews and analyst opinions, Bloomberg.com reports that Infosys currently maintains an average rating of “Hold.” Additionally, analysts have assigned an average target price of $18.00 for the stock.
On Friday, shares of Infosys opened at $16.96 which follows its 50-day simple moving average at $17.19 and its 200-day simple moving average standing at $16.42. The tech giant currently has a market capitalization of approximately $70.19 billion along with notable financial ratios such as a price-to-earnings (P/E) ratio of 23.56 and a P/E to growth (P/E/G) ratio of 2.44 indicating strong growth potential despite current challenges in the market. Furthermore, it boasts a beta of 0.97 which suggests moderate volatility compared to the overall market.
The tech firm recently disclosed its quarterly earnings results on July 20th whereby it reported earnings per share (EPS) of $0.17 for the quarter which fell slightly below analysts’ expectations by ($0.01). Moreover, their revenue during that period amounted to an impressive $4.62 billion compared to analyst estimates of $4.55 billion. Infosys also showcased a commendable net margin of 16.41% and a return on equity (ROE) of 32.39%.
As the current fiscal year progresses, research analysts anticipate that Infosys Limited will post an earnings per share (EPS) of around 0.71, which indicates steady growth and stability within the company.
Overall, with these notable changes in holdings from various institutional investors and an average rating of “Hold,” it will be interesting to observe how Infosys continues to navigate the ever-changing world of technology and financial markets in the coming months.
