Sprucegrove Investment Management Ltd. cut its position in Infosys Ltd (NYSE:INFY) by 3.9% during the first quarter, Holdings Channel reports. The firm owned 14,443,360 shares of the technology company’s stock after selling 587,500 shares during the quarter. Infosys accounts for 10.6% of Sprucegrove Investment Management Ltd.’s holdings, making the stock its 4th biggest position. Sprucegrove Investment Management Ltd.’s holdings in Infosys were worth $157,866,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Next Capital Management LLC purchased a new stake in shares of Infosys in the 1st quarter valued at approximately $26,000. Financial Gravity Wealth Inc. purchased a new stake in shares of Infosys in the 1st quarter valued at approximately $27,000. Nkcfo LLC purchased a new stake in shares of Infosys in the 4th quarter valued at approximately $25,000. Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Infosys in the 1st quarter valued at approximately $31,000. Finally, We Are One Seven LLC purchased a new stake in shares of Infosys in the 4th quarter valued at approximately $28,000. 17.57% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on the stock. Zacks Investment Research raised shares of Infosys from a “sell” rating to a “hold” rating in a research report on Friday. Nomura downgraded shares of Infosys from a “neutral” rating to a “reduce” rating in a research report on Monday, April 15th. Deutsche Bank downgraded shares of Infosys from a “buy” rating to a “hold” rating in a research report on Monday, April 15th. Investec downgraded shares of Infosys from a “buy” rating to a “hold” rating in a research report on Monday, April 15th. Finally, Credit Suisse Group downgraded shares of Infosys from a “neutral” rating to an “underperform” rating in a research report on Monday, April 15th. Two research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.26.
NYSE INFY opened at $10.17 on Friday. The firm has a market capitalization of $44.20 billion, a P/E ratio of 18.83, a P/E/G ratio of 1.96 and a beta of 0.52. Infosys Ltd has a 12 month low of $8.62 and a 12 month high of $11.38.
Infosys (NYSE:INFY) last posted its earnings results on Friday, April 12th. The technology company reported $0.13 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.13. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.04 billion. Infosys had a net margin of 18.62% and a return on equity of 25.41%. During the same period last year, the firm posted $0.13 EPS. As a group, research analysts predict that Infosys Ltd will post 0.55 earnings per share for the current fiscal year.
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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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