Swiss National Bank decreased its position in Infosys Ltd (NYSE:INFY) by 47.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 524,501 shares of the technology company’s stock after selling 475,659 shares during the period. Swiss National Bank’s holdings in Infosys were worth $10,191,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Todd Asset Management LLC purchased a new stake in shares of Infosys during the second quarter worth about $10,668,000. Mawer Investment Management Ltd. grew its stake in Infosys by 9.4% during the 2nd quarter. Mawer Investment Management Ltd. now owns 70,000 shares of the technology company’s stock valued at $1,360,000 after acquiring an additional 6,000 shares in the last quarter. Bailard Inc. purchased a new stake in Infosys during the 2nd quarter valued at about $2,493,000. LSV Asset Management grew its stake in Infosys by 76.5% during the 2nd quarter. LSV Asset Management now owns 355,835 shares of the technology company’s stock valued at $6,913,000 after acquiring an additional 154,235 shares in the last quarter. Finally, CIBC World Markets Inc. grew its stake in Infosys by 36.9% during the 2nd quarter. CIBC World Markets Inc. now owns 52,314 shares of the technology company’s stock valued at $1,016,000 after acquiring an additional 14,106 shares in the last quarter. 17.58% of the stock is owned by institutional investors.
Shares of NYSE INFY opened at $20.76 on Wednesday. Infosys Ltd has a 12-month low of $14.15 and a 12-month high of $21.14. The stock has a market cap of $45.14 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 1.99 and a beta of 0.41.
Infosys (NYSE:INFY) last posted its earnings results on Friday, July 13th. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.87 billion. Infosys had a net margin of 22.30% and a return on equity of 23.22%. equities analysts expect that Infosys Ltd will post 1.06 earnings per share for the current year.
Several analysts recently issued reports on INFY shares. Morgan Stanley cut shares of Infosys from an “overweight” rating to a “hold” rating in a research note on Monday, August 20th. Zacks Investment Research cut shares of Infosys from a “hold” rating to a “sell” rating in a research note on Friday, June 15th. Cowen upped their price objective on shares of Infosys from $16.00 to $17.00 and gave the company a “market perform” rating in a research note on Monday, July 16th. ValuEngine cut shares of Infosys from a “buy” rating to a “hold” rating in a research note on Thursday, May 17th. Finally, Deutsche Bank started coverage on shares of Infosys in a research note on Thursday, July 12th. They set a “buy” rating for the company. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $16.91.
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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