Cornerstone Advisors Inc. increased its holdings in shares of Infosys Ltd (NYSE:INFY) by 27.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,088 shares of the technology company’s stock after purchasing an additional 4,303 shares during the period. Cornerstone Advisors Inc.’s holdings in Infosys were worth $215,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the stock. FMR LLC boosted its position in Infosys by 46,711,314.8% in the 1st quarter. FMR LLC now owns 25,224,164 shares of the technology company’s stock valued at $275,699,000 after buying an additional 25,224,110 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of Infosys by 32.0% during the first quarter. Lazard Asset Management LLC now owns 37,840,845 shares of the technology company’s stock worth $413,599,000 after purchasing an additional 9,169,543 shares during the last quarter. FIL Ltd lifted its position in shares of Infosys by 77.4% during the first quarter. FIL Ltd now owns 19,335,219 shares of the technology company’s stock worth $211,333,000 after purchasing an additional 8,433,557 shares during the last quarter. GQG Partners LLC lifted its position in shares of Infosys by 16.7% during the first quarter. GQG Partners LLC now owns 24,689,394 shares of the technology company’s stock worth $269,535,000 after purchasing an additional 3,541,726 shares during the last quarter. Finally, Investec Asset Management LTD lifted its position in shares of Infosys by 8.6% during the first quarter. Investec Asset Management LTD now owns 43,046,945 shares of the technology company’s stock worth $470,503,000 after purchasing an additional 3,418,796 shares during the last quarter. 17.83% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE INFY traded down $0.15 during mid-day trading on Friday, reaching $11.10. 228,901 shares of the company traded hands, compared to its average volume of 11,539,375. Infosys Ltd has a fifty-two week low of $8.85 and a fifty-two week high of $11.64. The firm has a market capitalization of $47.81 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.11 and a beta of 0.53. The company has a fifty day moving average of $11.05.
Infosys (NYSE:INFY) last posted its quarterly earnings data on Friday, July 12th. The technology company reported $0.13 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.13. Infosys had a net margin of 18.26% and a return on equity of 25.55%. The business had revenue of $218.03 billion for the quarter, compared to analyst estimates of $216.51 billion. During the same quarter last year, the business earned $0.13 earnings per share. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. Analysts anticipate that Infosys Ltd will post 0.55 EPS for the current fiscal year.
INFY has been the topic of several research analyst reports. Credit Suisse Group cut shares of Infosys from a “neutral” rating to an “underperform” rating in a research report on Monday, April 15th. Morgan Stanley cut shares of Infosys from an “overweight” rating to an “equal weight” rating and set a $10.62 price target on the stock. in a research report on Monday, April 15th. Wedbush reiterated a “neutral” rating on shares of Infosys in a research note on Friday, July 12th. BMO Capital Markets set a $13.00 price objective on shares of Infosys and gave the stock a “hold” rating in a research note on Monday, July 15th. Finally, ValuEngine lowered shares of Infosys from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has given a buy rating to the stock. Infosys has an average rating of “Hold” and an average price target of $10.96.
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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