Cornerstone Advisors Inc. raised its stake in Infosys Ltd (NYSE:INFY) by 27.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,088 shares of the technology company’s stock after acquiring an additional 4,303 shares during the period. Cornerstone Advisors Inc.’s holdings in Infosys were worth $215,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Investec Asset Management LTD lifted its stake 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 valued at $470,503,000 after acquiring an additional 3,418,796 shares during the period. Lazard Asset Management LLC lifted its stake in Infosys by 32.0% in the first quarter. Lazard Asset Management LLC now owns 37,840,845 shares of the technology company’s stock valued at $413,599,000 after buying an additional 9,169,543 shares during the period. FMR LLC lifted its stake in Infosys by 46,711,314.8% in the first 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 period. GQG Partners LLC increased its holdings in shares of Infosys by 16.7% in the first quarter. GQG Partners LLC now owns 24,689,394 shares of the technology company’s stock worth $269,535,000 after acquiring an additional 3,541,726 shares in the last quarter. Finally, FIL Ltd increased its holdings in shares of Infosys by 77.4% in the first quarter. FIL Ltd now owns 19,335,219 shares of the technology company’s stock worth $211,333,000 after acquiring an additional 8,433,557 shares in the last quarter. Hedge funds and other institutional investors own 17.83% of the company’s stock.
Several brokerages have issued reports on INFY. Zacks Investment Research upgraded Infosys from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Morgan Stanley downgraded Infosys from an “overweight” rating to an “equal weight” rating and set a $10.62 price objective for the company. in a report on Monday, April 15th. ValuEngine downgraded Infosys from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Citigroup upgraded Infosys from a “neutral” rating to a “buy” rating in a report on Friday, July 12th. Finally, Wedbush reiterated a “neutral” rating on shares of Infosys in a report on Friday, July 12th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $10.96.Shares of INFY traded down $0.15 during mid-day trading on Friday, reaching $11.10. The company’s stock had a trading volume of 228,901 shares, compared to its average volume of 11,539,375. The stock has a market cap of $47.81 billion, a PE ratio of 20.54, a P/E/G ratio of 2.11 and a beta of 0.53. The business’s 50-day moving average price is $11.05. Infosys Ltd has a 1-year low of $8.85 and a 1-year high of $11.64.
Infosys (NYSE:INFY) last released its quarterly earnings results on Friday, July 12th. The technology company reported $0.13 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.13. The business had revenue of $218.03 billion during the quarter, compared to analysts’ expectations of $216.51 billion. Infosys had a return on equity of 25.55% and a net margin of 18.26%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period last year, the firm posted $0.13 EPS. On average, analysts forecast that Infosys Ltd will post 0.55 EPS for the current fiscal year.
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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