Letko Brosseau & Associates Inc. decreased its position in Infosys Ltd (NYSE:INFY) by 6.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 171,125 shares of the technology company’s stock after selling 11,700 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Infosys were worth $1,653,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Rafferty Asset Management LLC purchased a new position in shares of Infosys in the 2nd quarter valued at about $512,000. US Bancorp DE raised its stake in Infosys by 15.7% during the 2nd quarter. US Bancorp DE now owns 63,292 shares of the technology company’s stock worth $611,000 after acquiring an additional 8,599 shares in the last quarter. Coronation Fund Managers Ltd. lifted its position in Infosys by 47.5% in the second quarter. Coronation Fund Managers Ltd. now owns 6,470,113 shares of the technology company’s stock valued at $62,501,000 after acquiring an additional 2,082,503 shares during the last quarter. Lester Murray Antman dba SimplyRich boosted its stake in Infosys by 4.4% in the second quarter. Lester Murray Antman dba SimplyRich now owns 32,722 shares of the technology company’s stock valued at $313,000 after acquiring an additional 1,374 shares in the last quarter. Finally, Todd Asset Management LLC grew its holdings in shares of Infosys by 20.4% during the second quarter. Todd Asset Management LLC now owns 1,635,622 shares of the technology company’s stock worth $15,800,000 after purchasing an additional 277,191 shares during the last quarter. Institutional investors own 17.36% of the company’s stock.
INFY traded up $0.02 during trading on Thursday, hitting $12.82. The stock had a trading volume of 236,432 shares, compared to its average volume of 8,818,008. The firm has a market capitalization of $55.05 billion, a P/E ratio of 23.60, a PEG ratio of 2.41 and a beta of 0.83. The company’s 50-day moving average price is $11.82 and its 200 day moving average price is $9.91. Infosys Ltd has a twelve month low of $6.76 and a twelve month high of $13.03.
Infosys (NYSE:INFY) last released its earnings results on Wednesday, July 15th. The technology company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Infosys had a net margin of 18.35% and a return on equity of 27.03%. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter last year, the business earned $0.13 EPS. As a group, analysts predict that Infosys Ltd will post 0.54 earnings per share for the current year.
INFY has been the topic of a number of research reports. Nomura upgraded Infosys from a “neutral” rating to a “buy” rating in a research note on Thursday, July 16th. Goldman Sachs Group raised Infosys from a “buy” rating to a “conviction-buy” rating in a report on Monday, July 6th. Wedbush raised shares of Infosys from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $12.00 to $14.00 in a report on Thursday, July 16th. ValuEngine downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research report on Wednesday, July 8th. Finally, Nomura Instinet raised shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $11.36.
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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