OLD National Bancorp IN Acquires Shares of 12,327 Infosys Limited (INFY)

OLD National Bancorp IN purchased a new position in Infosys Limited (NYSE:INFY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,327 shares of the technology company’s stock, valued at approximately $185,000.

Other institutional investors have also recently made changes to their positions in the company. Kernodle & Katon Asset Management Group LLC purchased a new position in shares of Infosys Limited during the first quarter worth $100,000. PNC Financial Services Group Inc. boosted 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 worth $120,000 after buying an additional 3,400 shares in the last quarter. CT Financial Advisors LLC purchased a new position in shares of Infosys Limited during the first quarter worth $144,000. Greenleaf Trust purchased a new position in shares of Infosys Limited during the first quarter worth $168,000. Finally, Sigma Planning Corp purchased a new position in shares of Infosys Limited during the first quarter worth $188,000. 20.77% of the stock is currently owned by institutional investors.

Infosys Limited (NYSE INFY) opened at 15.49 on Friday. Infosys Limited has a 1-year low of $13.42 and a 1-year high of $16.71. The firm has a market capitalization of $35.41 billion, a price-to-earnings ratio of 16.32 and a beta of 0.79. The stock’s 50 day moving average is $15.43 and its 200 day moving average is $15.08.

Infosys Limited (NYSE:INFY) last released its quarterly earnings results on Friday, July 14th. The technology company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Infosys Limited had a net margin of 20.95% and a return on equity of 21.37%. The company had revenue of $170.78 billion for the quarter, compared to analyst estimates of $170.51 billion. During the same period last year, the firm earned $0.22 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. Analysts predict that Infosys Limited will post $0.98 EPS for the current fiscal year.

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A number of equities analysts have recently weighed in on the stock. Goldman Sachs Group, Inc. (The) reissued a “sell” rating on shares of Infosys Limited in a research report on Friday, June 9th. BidaskClub cut shares of Infosys Limited from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research cut shares of Infosys Limited from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Infosys Limited in a research report on Friday, July 14th. Finally, HSBC Holdings plc raised shares of Infosys Limited from a “hold” rating to a “buy” rating in a research report on Thursday, June 8th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. Infosys Limited 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.

Institutional Ownership by Quarter for Infosys Limited (NYSE:INFY)

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