CIBC World Markets Inc. lifted its position in Infosys Limited (NYSE:INFY) by 30.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,395 shares of the technology company’s stock after acquiring an additional 13,228 shares during the quarter. CIBC World Markets Inc.’s holdings in Infosys Limited were worth $847,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in INFY. Kernodle & Katon Asset Management Group LLC purchased a new position in Infosys Limited in the first quarter valued at about $100,000. PNC Financial Services Group Inc. grew its stake in 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 purchasing an additional 3,400 shares during the last quarter. Equity Investment Corp Acquisition Inc purchased a new position in Infosys Limited in the second quarter valued at about $151,000. Personal Capital Advisors Corp purchased a new position in Infosys Limited in the second quarter valued at about $166,000. Finally, Greenleaf Trust grew its stake in Infosys Limited by 13.5% in the second quarter. Greenleaf Trust now owns 12,045 shares of the technology company’s stock valued at $181,000 after purchasing an additional 1,437 shares during the last quarter. Hedge funds and other institutional investors own 19.86% of the company’s stock.
Several equities analysts have issued reports on INFY shares. Zacks Investment Research upgraded Infosys Limited from a “sell” rating to a “hold” rating and set a $18.00 target price on the stock in a research note on Monday, July 17th. Cantor Fitzgerald reiterated a “hold” rating on shares of Infosys Limited in a research note on Friday, August 25th. Robert W. Baird reiterated a “hold” rating and issued a $16.00 target price on shares of Infosys Limited in a research note on Sunday, September 3rd. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating on shares of Infosys Limited in a research note on Friday, June 9th. Finally, Deutsche Bank AG upgraded Infosys Limited from a “hold” rating to a “buy” rating in a research note on Monday, August 28th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $15.58.
Shares of Infosys Limited (INFY) opened at 14.65 on Friday. The stock’s 50 day moving average price is $15.14 and its 200-day moving average price is $15.17. Infosys Limited has a 52 week low of $13.42 and a 52 week high of $16.71. The stock has a market cap of $33.49 billion, a price-to-earnings ratio of 15.44 and a beta of 0.79.
Infosys Limited (NYSE:INFY) last issued its earnings results on Friday, July 14th. The technology company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. Infosys Limited had a return on equity of 21.37% and a net margin of 20.95%. The business had revenue of $170.78 billion for the quarter, compared to analyst estimates of $170.51 billion. During the same quarter last year, the company earned $0.22 EPS. The business’s quarterly revenue was up 1.8% on a year-over-year basis. Equities analysts anticipate that Infosys Limited will post $0.99 earnings per share for the current fiscal year.
Infosys Limited 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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