Dorsey Wright & Associates lowered its stake in shares of Infosys Ltd (NYSE:INFY) by 6.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,589 shares of the technology company’s stock after selling 28,553 shares during the quarter. Infosys comprises approximately 1.1% of Dorsey Wright & Associates’ investment portfolio, making the stock its 27th biggest position. Dorsey Wright & Associates’ holdings in Infosys were worth $4,639,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Next Capital Management LLC acquired a new stake in Infosys during the first quarter worth approximately $26,000. Financial Gravity Wealth Inc. acquired a new stake in Infosys during the first quarter worth approximately $27,000. Asahi Life Asset Management CO. LTD. acquired a new stake in Infosys during the first quarter worth approximately $31,000. American Beacon Advisors Inc. grew its position in Infosys by 56.2% during the first quarter. American Beacon Advisors Inc. now owns 3,139 shares of the technology company’s stock worth $34,000 after buying an additional 1,129 shares in the last quarter. Finally, Advisory Services Network LLC boosted its holdings in shares of Infosys by 303.8% in the 4th quarter. Advisory Services Network LLC now owns 4,228 shares of the technology company’s stock valued at $40,000 after purchasing an additional 3,181 shares in the last quarter. 17.75% of the stock is currently owned by institutional investors and hedge funds.
INFY stock traded up $0.03 on Tuesday, hitting $11.49. The company had a trading volume of 6,815,500 shares, compared to its average volume of 10,222,397. Infosys Ltd has a 12-month low of $8.85 and a 12-month high of $11.64. The company has a 50-day moving average of $10.85. The company has a market capitalization of $49.98 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.18 and a beta of 0.52.
Infosys (NYSE:INFY) last announced its quarterly earnings data on Friday, July 12th. The technology company reported $0.13 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. The firm had revenue of $218.03 billion for the quarter, compared to the consensus estimate of $216.51 billion. Infosys had a net margin of 18.26% and a return on equity of 25.55%. The company’s revenue was up 14.0% on a year-over-year basis. During the same period last year, the firm earned $0.13 EPS. Sell-side analysts forecast that Infosys Ltd will post 0.55 EPS for the current year.
A number of brokerages have recently commented on INFY. HSBC cut easyJet to a “hold” rating in a research note on Tuesday, April 2nd. Deutsche Bank reiterated a “buy” rating and issued a $18.00 price target on shares of STMicroelectronics in a research note on Monday, April 15th. Wedbush set a $30.00 price target on Redfin and gave the company a “buy” rating in a research note on Friday, July 12th. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research upgraded HANNOVER RUECK/S from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $10.96.
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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