Probity Advisors Inc. grew its stake in shares of Infosys Ltd (NYSE:INFY) by 5.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,283 shares of the technology company’s stock after buying an additional 989 shares during the quarter. Probity Advisors Inc.’s holdings in Infosys were worth $222,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Investec Asset Management LTD grew its holdings in shares of Infosys by 8.6% during the 1st quarter. Investec Asset Management LTD now owns 43,046,945 shares of the technology company’s stock valued at $470,503,000 after purchasing an additional 3,418,796 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Infosys by 1.6% in the 4th quarter. Fisher Asset Management LLC now owns 41,879,875 shares of the technology company’s stock worth $398,696,000 after acquiring an additional 647,262 shares during the last quarter. Nordea Investment Management AB bought a new stake in Infosys in the 3rd quarter worth $231,652,000. GQG Partners LLC grew its holdings in Infosys by 32.1% in the 4th quarter. GQG Partners LLC now owns 21,147,668 shares of the technology company’s stock worth $201,355,000 after acquiring an additional 5,136,841 shares during the last quarter. Finally, Polaris Capital Management LLC grew its holdings in Infosys by 106.5% in the 3rd quarter. Polaris Capital Management LLC now owns 19,982,318 shares of the technology company’s stock worth $203,220,000 after acquiring an additional 10,307,444 shares during the last quarter. 17.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of INFY traded up $0.04 during mid-day trading on Wednesday, reaching $10.22. The stock had a trading volume of 8,620,588 shares, compared to its average volume of 10,131,756. The firm has a market cap of $44.33 billion, a P/E ratio of 18.93, a PEG ratio of 1.96 and a beta of 0.52. Infosys Ltd has a 12 month low of $8.64 and a 12 month high of $11.38.
Infosys (NYSE:INFY) last posted its quarterly earnings results on Friday, April 12th. The technology company reported $0.13 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.13. Infosys had a net margin of 18.62% and a return on equity of 25.41%. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same period in the prior year, the business posted $0.13 earnings per share. Equities research analysts expect that Infosys Ltd will post 0.55 EPS for the current year.
A number of equities research analysts have issued reports on the stock. Credit Suisse Group lowered shares of Infosys from a “neutral” rating to an “underperform” rating in a report on Monday, April 15th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Infosys in a report on Friday, April 12th. Nomura cut shares of Infosys from a “neutral” rating to a “reduce” rating in a report on Monday, April 15th. Zacks Investment Research upgraded shares of Infosys from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Citigroup lowered shares of Infosys from a “buy” rating to a “neutral” rating in a research note on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. Infosys currently has a consensus rating of “Hold” and an average target price of $11.26.
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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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