Raymond James & Associates reduced its position in Infosys Ltd (NYSE:INFY) by 29.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 139,228 shares of the technology company’s stock after selling 56,785 shares during the period. Raymond James & Associates’ holdings in Infosys were worth $2,705,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of INFY. Genesis Asset Managers LLP lifted its position in Infosys by 74.4% during the second quarter. Genesis Asset Managers LLP now owns 9,604,671 shares of the technology company’s stock worth $186,619,000 after acquiring an additional 4,096,369 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Infosys by 22.6% during the second quarter. Bank of New York Mellon Corp now owns 17,353,458 shares of the technology company’s stock worth $337,179,000 after acquiring an additional 3,203,387 shares during the last quarter. Somerset Capital Management LLP acquired a new stake in Infosys during the second quarter worth approximately $35,786,000. Investec Asset Management LTD lifted its position in Infosys by 21.8% during the second quarter. Investec Asset Management LTD now owns 9,567,367 shares of the technology company’s stock worth $185,894,000 after acquiring an additional 1,714,285 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in Infosys by 72.7% during the second quarter. BNP Paribas Arbitrage SA now owns 3,495,106 shares of the technology company’s stock worth $67,910,000 after acquiring an additional 1,471,080 shares during the last quarter. Institutional investors and hedge funds own 8.78% of the company’s stock.
INFY has been the subject of several research reports. Morgan Stanley downgraded shares of Infosys from an “overweight” rating to a “hold” rating in a research report on Monday, August 20th. Robert W. Baird raised their price objective on shares of Infosys from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, September 14th. ValuEngine downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Cowen raised their price objective on shares of Infosys from $16.00 to $17.00 and gave the stock a “market perform” rating in a research report on Monday, July 16th. Finally, Deutsche Bank initiated coverage on shares of Infosys in a research report on Thursday, July 12th. They set a “buy” rating for the company. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $16.66.
Shares of INFY opened at $10.17 on Monday. Infosys Ltd has a 12 month low of $7.07 and a 12 month high of $10.65. The company has a market cap of $44.20 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 1.94 and a beta of 0.41.
Infosys (NYSE:INFY) last announced its earnings results on Friday, July 13th. The technology company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. Infosys had a net margin of 22.30% and a return on equity of 23.22%. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.87 billion. On average, research analysts predict that Infosys Ltd will post 0.53 EPS for the current fiscal year.
Infosys Company 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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