Shilanski & Associates Inc. acquired a new stake in Infosys Ltd (NYSE:INFY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,047 shares of the technology company’s stock, valued at approximately $161,000.
Other hedge funds have also added to or reduced their stakes in the company. Next Capital Management LLC acquired a new stake in shares of Infosys during the 1st quarter worth approximately $26,000. Financial Gravity Wealth Inc. acquired a new stake in Infosys in the 1st quarter valued at approximately $27,000. NEXT Financial Group Inc increased its holdings in Infosys by 85.7% in the 2nd quarter. NEXT Financial Group Inc now owns 2,492 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,150 shares during the last quarter. Asahi Life Asset Management CO. LTD. acquired a new stake in Infosys in the 1st quarter valued at approximately $31,000. Finally, American Beacon Advisors Inc. increased its holdings in Infosys by 56.2% in the 1st quarter. American Beacon Advisors Inc. now owns 3,139 shares of the technology company’s stock valued at $34,000 after purchasing an additional 1,129 shares during the last quarter. Institutional investors own 17.28% of the company’s stock.
INFY has been the subject of several research reports. BMO Capital Markets set a $13.00 target price on shares of Infosys and gave the company a “hold” rating in a report on Monday, July 15th. Zacks Investment Research raised shares of Infosys from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Wells Fargo & Co set a $12.00 price target on shares of Infosys and gave the company a “hold” rating in a research report on Friday, May 31st. Citigroup raised shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Friday, July 12th. Finally, Wedbush reissued a “neutral” rating on shares of Infosys in a research report on Friday, July 12th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $10.96.
Shares of Infosys stock traded down $0.03 on Wednesday, reaching $11.30. 233,750 shares of the stock were exchanged, compared to its average volume of 9,464,968. Infosys Ltd has a 1-year low of $8.85 and a 1-year high of $11.64. The business has a fifty day moving average price of $11.15 and a two-hundred day moving average price of $10.77. The firm has a market capitalization of $47.28 billion, a PE ratio of 20.93, a PEG ratio of 2.12 and a beta of 0.53.
Infosys (NYSE:INFY) last issued its quarterly earnings results on Friday, July 12th. The technology company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $218.03 billion for the quarter, compared to analyst estimates of $216.51 billion. Infosys had a net margin of 18.26% and a return on equity of 25.55%. The business’s revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 earnings per share. On average, sell-side analysts anticipate that Infosys Ltd will post 0.55 earnings per share for the current fiscal year.
Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.
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