Infosys Ltd. $INFY Shares Acquired by SummitTX Capital L.P.

SummitTX Capital L.P. increased its position in Infosys Ltd. (NYSE:INFY) by 282.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 92,476 shares of the technology company’s stock after purchasing an additional 68,276 shares during the period. SummitTX Capital L.P.’s holdings in Infosys were worth $1,249,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in Infosys during the first quarter worth approximately $97,000. State of Wyoming acquired a new stake in shares of Infosys in the first quarter valued at approximately $134,000. Aureus Asset Management LLC acquired a new stake in shares of Infosys in the first quarter valued at approximately $142,000. Able Wealth Management LLC purchased a new position in shares of Infosys during the first quarter worth approximately $163,000. Finally, Dickmeyer Boyce Financial Management Inc. acquired a new position in shares of Infosys in the 1st quarter valued at $173,000. 16.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Weiss Ratings downgraded shares of Infosys from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday. Stifel Nicolaus set a $13.00 target price on shares of Infosys and gave the company a “hold” rating in a report on Thursday, July 16th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $10.90 target price (down from $12.70) on shares of Infosys in a research note on Friday, July 24th. Wells Fargo & Company set a $11.00 price target on Infosys and gave the company an “equal weight” rating in a research report on Friday, June 26th. Finally, HSBC set a $11.47 price objective on Infosys and gave the company a “hold” rating in a research note on Friday, July 24th. Eight equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $11.63.

Infosys Stock Performance

Shares of Infosys stock opened at $12.62 on Thursday. Infosys Ltd. has a one year low of $10.30 and a one year high of $30.00. The company has a market cap of $51.09 billion, a P/E ratio of 15.59, a PEG ratio of 2.88 and a beta of 0.90. The firm has a fifty day moving average of $11.59 and a two-hundred day moving average of $13.55.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, July 23rd. The technology company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). Infosys had a net margin of 16.38% and a return on equity of 33.91%. The firm had revenue of $4.99 billion during the quarter, compared to analysts’ expectations of $5.08 billion. As a group, equities analysts predict that Infosys Ltd. will post 0.81 earnings per share for the current year.

Infosys Company Profile

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.