Dalton Investments LLC lessened its holdings in Infosys Ltd (NYSE:INFY) by 38.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 178,887 shares of the technology company’s stock after selling 114,113 shares during the period. Infosys accounts for 0.9% of Dalton Investments LLC’s holdings, making the stock its 23rd biggest position. Dalton Investments LLC’s holdings in Infosys were worth $1,914,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. NEXT Financial Group Inc raised its stake 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 acquiring an additional 1,150 shares during the period. Asahi Life Asset Management CO. LTD. bought a new position in Infosys during the 1st quarter worth $31,000. American Beacon Advisors Inc. increased its position in Infosys by 56.2% during the 1st quarter. American Beacon Advisors Inc. now owns 3,139 shares of the technology company’s stock worth $34,000 after buying an additional 1,129 shares during the period. Rational Advisors LLC increased its position in Infosys by 50.0% during the 1st quarter. Rational Advisors LLC now owns 3,662 shares of the technology company’s stock worth $40,000 after buying an additional 1,221 shares during the period. Finally, Huntington National Bank increased its position in Infosys by 60.3% during the 2nd quarter. Huntington National Bank now owns 3,957 shares of the technology company’s stock worth $42,000 after buying an additional 1,489 shares during the period. Institutional investors and hedge funds own 18.06% of the company’s stock.
Several research firms have weighed in on INFY. Wells Fargo & Co set a $12.00 price objective on Infosys and gave the stock a “hold” rating in a research report on Friday, May 31st. Wedbush reiterated a “neutral” rating on shares of Infosys in a research report on Friday, July 12th. Zacks Investment Research upgraded Infosys from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Citigroup upgraded Infosys from a “neutral” rating to a “buy” rating in a research report on Friday, July 12th. Finally, ValuEngine cut Infosys from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the stock. Infosys presently has an average rating of “Hold” and an average target price of $11.29.
INFY stock opened at $11.68 on Friday. The stock has a market capitalization of $49.63 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 2.23 and a beta of 0.50. The business’s fifty day moving average price is $11.31 and its two-hundred day moving average price is $10.85. Infosys Ltd has a fifty-two week low of $8.85 and a fifty-two week high of $12.08.
Infosys (NYSE:INFY) last released its earnings results on Friday, July 12th. The technology company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $218.03 billion for the quarter, compared to analyst estimates of $216.51 billion. Infosys had a return on equity of 25.55% and a net margin of 18.26%. Infosys’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 EPS. Equities research analysts expect that Infosys Ltd will post 0.55 earnings per share for the current fiscal year.
Infosys Company Profile
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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