Daiwa Securities Group Inc. cut its position in Infosys Limited (NYSE:INFY) by 38.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,500 shares of the technology company’s stock after selling 34,500 shares during the period. Daiwa Securities Group Inc.’s holdings in Infosys Limited were worth $834,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. Kernodle & Katon Asset Management Group LLC acquired a new stake in shares of Infosys Limited during the first quarter worth approximately $100,000. PNC Financial Services Group Inc. raised its position in shares of Infosys Limited by 82.0% in the first quarter. PNC Financial Services Group Inc. now owns 7,547 shares of the technology company’s stock valued at $120,000 after buying an additional 3,400 shares in the last quarter. Personal Capital Advisors Corp purchased a new position in shares of Infosys Limited during the second quarter valued at approximately $166,000. Greenleaf Trust purchased a new position in shares of Infosys Limited during the first quarter valued at approximately $168,000. Finally, OLD National Bancorp IN purchased a new position in shares of Infosys Limited during the second quarter valued at approximately $185,000. 20.77% of the stock is owned by institutional investors.
Infosys Limited (NYSE:INFY) opened at 15.49 on Friday. The company has a market capitalization of $35.41 billion, a P/E ratio of 16.32 and a beta of 0.79. The stock’s 50 day moving average price is $15.43 and its 200 day moving average price is $15.08. Infosys Limited has a one year low of $13.42 and a one year high of $16.71.
Infosys Limited (NYSE:INFY) last issued its quarterly earnings results on Friday, July 14th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $170.78 billion for the quarter, compared to the consensus estimate of $170.51 billion. Infosys Limited had a return on equity of 21.37% and a net margin of 20.95%. Infosys Limited’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.22 earnings per share. Equities analysts anticipate that Infosys Limited will post $0.98 EPS for the current fiscal year.
Several equities analysts have commented on INFY shares. Stifel Nicolaus reissued a “hold” rating and set a $15.50 price objective on shares of Infosys Limited in a research report on Tuesday, April 18th. Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of Infosys Limited in a research report on Tuesday, April 18th. Zacks Investment Research lowered Infosys Limited from a “hold” rating to a “sell” rating in a research report on Monday, May 15th. HSBC Holdings plc raised Infosys Limited from a “hold” rating to a “buy” rating in a research report on Thursday, June 8th. Finally, Goldman Sachs Group, Inc. (The) reissued a “sell” rating on shares of Infosys Limited in a research report on Friday, June 9th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $16.08.
Infosys Limited Company Profile
Infosys Limited is engaged in consulting, technology, outsourcing and next-generation services. The Company, along with its subsidiaries, provides business information technology services comprising application development and maintenance, independent validation, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking solution, and offerings in the areas of Analytics, Cloud and Digital Transformation.
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