Infosys Opens Technology Innovation Center At ASU SkySong

Indian technology company Infosys opened its Technology and Innovation Center at ASU’s SkySong last week. The technology center will include …

Mariana Dale/KJZZ
ASU SkySong stands on the site of the Los Arcos Mall, once a center of commerce.

Indian technology company Infosys opened its Technology and Innovation Center at ASU’s SkySong last week.

The technology center will include virtual reality, robotics, 3D printing, and other research spaces for cloud computing, user experience technology, and artificial intelligence.

“The exciting thing about being hooked up with Infosys is that these are really smart people that have built an entrepreneurial company coming to us and partnering with us,” said ASU President Michael Crow. “Together now we will be able to do 10 or 15 or 20 times more now than we could’ve done before.”

It plans to hire 1,000 workers in Arizona by 2023. The Center will move to a permanent, 60,000 square foot center at ASU’s Novus Innovation Corridor next year.

“The inauguration of our Arizona Digital Technology and Innovation Center is an important milestone in our efforts to help American enterprises accelerate their digital transformations,” said Infosys Chief Operating Officer Pravin Rao. “Our focus on digital change driven by data, cloud and experience is the foundation of our digital centers across the US.”

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Natixis Buys New Position in Infosys Ltd (NYSE:INFY)

Natixis bought a new stake in shares of Infosys Ltd (NYSE:INFY) during the 2nd quarter, according to its most recent filing with the SEC. The firm …

Infosys logoNatixis bought a new stake in shares of Infosys Ltd (NYSE:INFY) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 171,380 shares of the technology company’s stock, valued at approximately $1,834,000.

Other large investors also recently made changes to their positions in the company. Cornerstone Advisors Inc. increased its holdings in Infosys by 14.0% during the 1st quarter. Cornerstone Advisors Inc. now owns 15,785 shares of the technology company’s stock worth $173,000 after purchasing an additional 1,944 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Infosys by 14.7% during the 1st quarter. Victory Capital Management Inc. now owns 2,052,852 shares of the technology company’s stock worth $22,438,000 after purchasing an additional 263,718 shares during the last quarter. First Allied Advisory Services Inc. increased its holdings in Infosys by 29.8% during the 1st quarter. First Allied Advisory Services Inc. now owns 75,596 shares of the technology company’s stock worth $817,000 after purchasing an additional 17,338 shares during the last quarter. Cetera Investment Advisers purchased a new stake in Infosys during the 1st quarter worth approximately $112,000. Finally, Raymond James & Associates increased its holdings in Infosys by 4.2% during the 1st quarter. Raymond James & Associates now owns 645,559 shares of the technology company’s stock worth $7,056,000 after purchasing an additional 25,975 shares during the last quarter. Institutional investors and hedge funds own 18.06% of the company’s stock.

Several research analysts have recently commented on INFY shares. Citigroup upgraded Infosys from a “neutral” rating to a “buy” rating in a research report on Friday, July 12th. Zacks Investment Research upgraded Infosys from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Nomura upgraded Infosys from a “reduce” rating to a “neutral” rating in a research report on Monday, July 15th. Wedbush reiterated a “neutral” rating on shares of Infosys in a research report on Friday, July 12th. Finally, BMO Capital Markets set a $13.00 target price on Infosys and gave the stock a “hold” rating in a research report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company’s stock. Infosys has a consensus rating of “Hold” and a consensus target price of $11.29.

NYSE:INFY opened at $11.77 on Friday. Infosys Ltd has a 12-month low of $8.85 and a 12-month high of $12.08. The firm has a market capitalization of $49.46 billion, a P/E ratio of 21.80, a P/E/G ratio of 2.22 and a beta of 0.50. The business has a 50 day simple moving average of $11.31 and a 200 day simple moving average of $10.85.

Infosys (NYSE:INFY) last released its quarterly earnings data on Friday, July 12th. The technology company reported $0.13 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.13. Infosys had a return on equity of 25.55% and a net margin of 18.26%. The business had revenue of $218.03 billion during the quarter, compared to analyst estimates of $216.51 billion. During the same quarter in the previous year, the firm posted $0.13 EPS. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Infosys Ltd will post 0.55 EPS for the current fiscal year.

Infosys 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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Institutional Ownership by Quarter for Infosys (NYSE:INFY)

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Natixis Invests $1.83 Million in Infosys Ltd (NYSE:INFY)

Natixis purchased a new stake in shares of Infosys Ltd (NYSE:INFY) during the second quarter, Holdings Channel reports. The institutional investor …

Infosys logoNatixis purchased a new stake in shares of Infosys Ltd (NYSE:INFY) during the second quarter, Holdings Channel reports. The institutional investor purchased 171,380 shares of the technology company’s stock, valued at approximately $1,834,000.

Several other hedge funds have also modified their holdings of the company. Investec Asset Management LTD grew its holdings in shares of Infosys by 1.5% during the second quarter. Investec Asset Management LTD now owns 43,690,242 shares of the technology company’s stock valued at $467,486,000 after buying an additional 643,297 shares in the last quarter. Lazard Asset Management LLC grew its holdings 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 valued at $413,599,000 after buying an additional 9,169,543 shares in the last quarter. FMR LLC grew its holdings in shares of Infosys by 46,711,314.8% during 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 in the last quarter. GQG Partners LLC grew its stake in Infosys by 16.7% in the first quarter. GQG Partners LLC now owns 24,689,394 shares of the technology company’s stock valued at $269,535,000 after purchasing an additional 3,541,726 shares in the last quarter. Finally, Polaris Capital Management LLC grew its stake in Infosys by 7.3% in the second quarter. Polaris Capital Management LLC now owns 20,828,218 shares of the technology company’s stock valued at $222,862,000 after purchasing an additional 1,408,400 shares in the last quarter. Institutional investors and hedge funds own 18.06% of the company’s stock.

A number of research analysts have commented on the company. BMO Capital Markets set a $13.00 target price on Infosys and gave the company a “hold” rating in a research note on Monday, July 15th. Wells Fargo & Co set a $12.00 target price on Infosys and gave the company a “hold” rating in a research note on Friday, May 31st. Citigroup upgraded Infosys from a “neutral” rating to a “buy” rating in a research note on Friday, July 12th. Robert W. Baird set a $13.00 target price on Infosys and gave the company a “hold” rating in a research note on Friday, September 6th. Finally, Wedbush restated a “neutral” rating on shares of Infosys in a research note on Friday, July 12th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $11.29.

INFY opened at $11.77 on Friday. The company has a market cap of $49.46 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 2.22 and a beta of 0.50. The stock has a 50-day moving average of $11.31 and a 200-day moving average of $10.85. Infosys Ltd has a 52-week low of $8.85 and a 52-week high of $12.08.

Infosys (NYSE:INFY) last released its quarterly earnings results on Friday, July 12th. The technology company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $218.03 billion during the quarter, compared to the consensus estimate of $216.51 billion. Infosys had a return on equity of 25.55% and a net margin of 18.26%. The firm’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.13 EPS. On average, research analysts predict that Infosys Ltd will post 0.55 EPS for the current year.

Infosys 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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Want to see what other hedge funds are holding INFY?Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Infosys Ltd (NYSE:INFY).

Institutional Ownership by Quarter for Infosys (NYSE:INFY)

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Infosys opens 6th innovation centre in US, to hire 1000 workers by 2023

Infosys has opened a technology and innovation centre in Arizona, making it the sixth such centre in the United States (US). The new centre will focus …

Infosys has opened a technology and innovation centre in Arizona, making it the sixth such centre in the United States (US). The new centre will focus on autonomous technologies, Internet of Things (IoT), full-stack engineering, data science and cyber security.

“We plan to hire 1,000 American workers in the state by 2023. As announced earlier, we have already surpassed the target of hiring 10,000 American workers as part of our ongoing efforts to accelerate the pace of innovation for American enterprises,” Infosys said in a statement.

In May 2017, Infosys had announced it would hire 10,000 locals as part of its localisation efforts apart from setting up technology and innovation centres in this key client geography. The second largest IT services firm has already opened innovation centres in Indianapolis (Indiana), Raleigh (North Carolina), Hartford (Connecticut) and Providence among others.

“The inauguration of our Arizona centre is an important milestone in our efforts to help American enterprises accelerate their digital transformations,” said Salil Parekh, Chief Executive Officer at Infosys. “We are excited to have completed our commitment to hire 10,000 American workers and we look forward to leveraging and empowering this specialized workforce to bridge the technology skills gap in the market and accelerate the digital agenda of our clients.”

ALSO READ: Infosys co-founder Kris Gopalakrishnan to head govt’s data panel

The IT firm also said hiring for around 500 staffers was underway at the new Arizona centre. On saturday, it also announced its partnership with ‘InStride’ as part of its efforts to develop workforce in STEM (science, technology, engineering and mathematics) skill sets.

With increasing restriction on visa regulations, Indian IT services firms have been building up an employee pyramid in the US in recent years. As part of this localisation efforts, while most companies are building up new delivery centres, these firms are also collaborating with American universities to train fresh graduates with necessary IT skills.

For Infosys, US contributes more than 60 per cent of revenues. The company is ramping up its localisation efforts to reduce its dependence on subcontractors. In the last quarter, subcontracting cost for the IT firm stood at 7.5 per cent of the company’s total delivery cost.

As part of its localisation drive, the company plans to continue hiring locals in the coming quarters.

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Mid Atlantic Financial Management Inc. ADV Reduces Holdings in Infosys Ltd (NYSE:INFY)

Mid Atlantic Financial Management Inc. ADV reduced its position in shares of Infosys Ltd (NYSE:INFY) by 15.2% in the 2nd quarter, according to its …

Infosys logoMid Atlantic Financial Management Inc. ADV reduced its position in shares of Infosys Ltd (NYSE:INFY) by 15.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,199 shares of the technology company’s stock after selling 1,833 shares during the quarter. Mid Atlantic Financial Management Inc. ADV’s holdings in Infosys were worth $109,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Enlightenment Research LLC bought a new stake in shares of Infosys in the 2nd quarter valued at about $223,000. Shilanski & Associates Inc. acquired a new position in shares of Infosys in the 2nd quarter valued at approximately $161,000. CIBC Asset Management Inc acquired a new position in shares of Infosys in the 2nd quarter valued at approximately $1,896,000. F3Logic LLC acquired a new position in shares of Infosys in the 2nd quarter valued at approximately $127,000. Finally, Icon Advisers Inc. Co. acquired a new position in shares of Infosys in the 2nd quarter valued at approximately $869,000. 18.06% of the stock is owned by hedge funds and other institutional investors.

Shares of INFY traded up $0.09 during mid-day trading on Friday, reaching $11.77. 9,359,324 shares of the company were exchanged, compared to its average volume of 9,780,635. The stock has a market capitalization of $49.46 billion, a PE ratio of 21.80, a PEG ratio of 2.22 and a beta of 0.50. The business has a 50 day simple moving average of $11.31 and a two-hundred day simple moving average of $10.85. Infosys Ltd has a 52 week low of $8.85 and a 52 week high of $12.08.

Infosys (NYSE:INFY) last issued its earnings results on Friday, July 12th. The technology company reported $0.13 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.13. Infosys had a return on equity of 25.55% and a net margin of 18.26%. The business had revenue of $218.03 billion during the quarter, compared to the consensus estimate of $216.51 billion. During the same period in the previous year, the company posted $0.13 earnings per share. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. Equities research analysts predict that Infosys Ltd will post 0.55 EPS for the current fiscal year.

A number of equities analysts have weighed in on the company. Robert W. Baird set a $13.00 price target on Infosys and gave the stock a “hold” rating in a research report on Friday, September 6th. Citigroup raised Infosys from a “neutral” rating to a “buy” rating in a research report on Friday, July 12th. BMO Capital Markets set a $13.00 price target on Infosys and gave the stock a “hold” rating in a research report on Monday, July 15th. ValuEngine cut Infosys from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Nomura upgraded Infosys from a “reduce” rating to a “neutral” rating in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $11.29.

About Infosys

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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Institutional Ownership by Quarter for Infosys (NYSE:INFY)

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