5 Cheap Stocks to Buy According to Billionaire Ken Fisher

4. Infosys Limited (NYSE:INFY)

Fisher Asset Management’s Stake Value: $357.108 million

Percentage of Fisher Asset Management’s 13F Portfolio: 0.22%

Number of Hedge Fund Holders as of Q3 2021: 29

Stock Price as of December 8, 2021: $23.06

Return since December 8. 2021: -22%

Fisher Asset Management held roughly 16 million shares of Infosys Limited (NYSE:INFY) by the end of the third quarter of 2021. Overall, out of the 867 hedge funds that Insider Monkey tracks, 29 were bearish on Infosys Limited (NYSE:INFY) with a combined stake of $2.5 billion by the end of Q3 2021. Since only 22 funds had stakes in the company with a total worth of $2.2 billion at the end of the second quarter, it indicates a strong hedge fund sentiment about the company.

The Indian information technology company announced its Q3 revenue of nearly $4 billion on October 13. The revenue demonstrated year-over-year growth of 20.5% and beat estimates by $100 million. As a result, Keith Bachman, an analyst at BMO Financial Group, raised his price target on Infosys Limited (NYSE:INFY) to $25 from $23 and maintained a “Market Perform” rating on the shares. The share price of Infosys Limited (NYSE:INFY) as of December 8 was $23.06.

Since October, the company has announced strategic collaborations with Shell Global Solutions International, Bloomberg Media, Madison Square Garden Sports, Madison Square Garden Entertainment, and Financial Times.