Traders Sell Shares of Infosys (INFY) on Strength (INFY)

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Traders sold shares of Infosys Ltd (NYSE:INFY) on strength during trading on Thursday. $11.68 million flowed into the stock on the tick-up and $23.84 million flowed out of the stock on the tick-down, for a money net flow of $12.16 million out of the stock. Of all companies tracked, Infosys had the 30th highest net out-flow for the day. Infosys traded up $0.11 for the day and closed at $20.46

A number of research firms have issued reports on INFY. Morgan Stanley lowered Infosys from an “overweight” rating to a “hold” rating in a research report on Monday, August 20th. Deutsche Bank began coverage on Infosys in a research report on Thursday, July 12th. They issued a “buy” rating on the stock. Cantor Fitzgerald increased their price target on Infosys from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, July 16th. Cowen increased their price target on Infosys from $16.00 to $17.00 and gave the company a “market perform” rating in a research report on Monday, July 16th. Finally, Zacks Investment Research lowered Infosys from a “hold” rating to a “sell” rating in a research report on Friday, June 15th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Infosys has a consensus rating of “Hold” and an average target price of $16.91.

The stock has a market capitalization of $44.64 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 1.97 and a beta of 0.47.

Infosys (NYSE:INFY) last issued its earnings results on Friday, July 13th. The technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. Infosys had a return on equity of 23.22% and a net margin of 22.30%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.87 billion. research analysts expect that Infosys Ltd will post 1.06 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. raised its position in shares of Infosys by 10.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 66,850 shares of the technology company’s stock worth $1,299,000 after acquiring an additional 6,200 shares in the last quarter. Nomura Holdings Inc. raised its position in shares of Infosys by 321.2% during the 2nd quarter. Nomura Holdings Inc. now owns 40,724 shares of the technology company’s stock worth $643,000 after acquiring an additional 59,131 shares in the last quarter. Putnam Investments LLC acquired a new stake in shares of Infosys during the 2nd quarter worth about $814,000. Baldwin Investment Management LLC raised its position in shares of Infosys by 11.9% during the 2nd quarter. Baldwin Investment Management LLC now owns 41,431 shares of the technology company’s stock worth $805,000 after acquiring an additional 4,400 shares in the last quarter. Finally, Sensato Investors LLC acquired a new stake in shares of Infosys during the 2nd quarter worth about $2,199,000. 17.58% of the stock is currently owned by institutional investors and hedge funds.

About Infosys (NYSE:INFY)

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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