Probity Advisors Inc. cut its stake in Infosys Limited (NYSE:INFY) by 18.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 15,162 shares of the technology company’s stock after selling 3,397 shares during the quarter. Probity Advisors Inc.’s holdings in Infosys were worth $209,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. RMR Wealth Builders acquired a new position in Infosys in the 2nd quarter valued at $29,000. Balentine LLC acquired a new position in shares of Infosys during the 2nd quarter worth $41,000. James Investment Research Inc. raised its holdings in shares of Infosys by 877.6% during the 3rd quarter. James Investment Research Inc. now owns 3,187 shares of the technology company’s stock worth $44,000 after buying an additional 2,861 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Infosys during the 3rd quarter worth $110,000. Finally, Verition Fund Management LLC acquired a new position in shares of Infosys during the 2nd quarter worth $119,000. 17.24% of the stock is owned by hedge funds and other institutional investors.
INFY traded down $0.18 on Tuesday, reaching $15.28. The stock had a trading volume of 104,977 shares, compared to its average volume of 11,902,561. Infosys Limited has a fifty-two week low of $6.76 and a fifty-two week high of $16.62. The firm has a 50-day moving average of $14.76 and a 200-day moving average of $11.96. The company has a market capitalization of $65.59 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 2.48 and a beta of 0.87.
Infosys (NYSE:INFY) last released its quarterly earnings results on Wednesday, October 14th. The technology company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Infosys had a return on equity of 27.14% and a net margin of 18.85%. The firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the previous year, the company posted $0.13 EPS. As a group, analysts predict that Infosys Limited will post 0.59 EPS for the current fiscal year.
The business also recently declared a semi-annual dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, January 1st were given a $0.1359 dividend. This represents a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, October 23rd. This is a positive change from Infosys’s previous semi-annual dividend of $0.10. Infosys’s payout ratio is 49.09%.
A number of research firms have recently commented on INFY. Robert W. Baird cut Infosys from a “neutral” rating to an “underperform” rating in a report on Thursday, October 15th. Zacks Investment Research cut Infosys from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a report on Friday, October 16th. BMO Capital Markets boosted their price target on Infosys from $13.00 to $18.00 and gave the stock a “market perform” rating in a report on Thursday, October 15th. Finally, William Blair reissued a “market perform” rating on shares of Infosys in a report on Wednesday, October 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $13.34.
Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application development and management, independent validation, product engineering and management, infrastructure management, enterprise application management, and support and integration services.
Featured Article: Bear Market – How and Why They Occur
Want to see what other hedge funds are holding INFY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Infosys Limited (NYSE:INFY).
Receive News & Ratings for Infosys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infosys and related companies with MarketBeat.com's FREE daily email newsletter.