ING Groep NV continued to hold its stake in shares of Infosys Limited (NYSE:INFY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,528 shares of the technology company’s stock at the end of the second quarter. ING Groep NV’s holdings in Infosys Limited were worth $909,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Kernodle & Katon Asset Management Group LLC acquired a new position in shares of Infosys Limited during the first quarter worth about $100,000. PNC Financial Services Group Inc. increased its position in shares of Infosys Limited by 82.0% in the first quarter. PNC Financial Services Group Inc. now owns 7,547 shares of the technology company’s stock worth $120,000 after buying an additional 3,400 shares during the period. CT Financial Advisors LLC acquired a new position in shares of Infosys Limited during the first quarter worth about $144,000. Greenleaf Trust acquired a new position in shares of Infosys Limited during the first quarter worth about $168,000. Finally, Sigma Planning Corp acquired a new position in shares of Infosys Limited during the first quarter worth about $188,000. 20.77% of the stock is owned by hedge funds and other institutional investors.
Infosys Limited (NYSE:INFY) traded up 1.11% during midday trading on Friday, hitting $15.49. The stock had a trading volume of 3,417,108 shares. Infosys Limited has a one year low of $13.42 and a one year high of $16.71. The stock has a market cap of $35.41 billion, a PE ratio of 16.32 and a beta of 0.79. The firm has a 50 day moving average price of $15.43 and a 200 day moving average price of $15.08.
Infosys Limited (NYSE:INFY) last posted its quarterly earnings results on Friday, July 14th. The technology company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. Infosys Limited had a net margin of 20.95% and a return on equity of 21.37%. The business had revenue of $170.78 billion for the quarter, compared to analysts’ expectations of $170.51 billion. During the same period in the previous year, the company posted $0.22 EPS. Infosys Limited’s revenue was up 1.8% on a year-over-year basis. Equities analysts expect that Infosys Limited will post $0.98 EPS for the current year.
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A number of equities analysts have recently issued reports on the company. BidaskClub raised Infosys Limited from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research downgraded Infosys Limited from a “hold” rating to a “sell” rating in a research note on Monday, May 15th. HSBC Holdings plc raised Infosys Limited from a “hold” rating to a “buy” rating in a research note on Thursday, June 8th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $15.50 price objective on shares of Infosys Limited in a research note on Tuesday, April 18th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Infosys Limited in a research note on Friday, July 14th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $16.08.
About Infosys Limited
Infosys Limited is engaged in consulting, technology, outsourcing and next-generation services. The Company, along with its subsidiaries, provides business information technology services comprising application development and maintenance, independent validation, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking solution, and offerings in the areas of Analytics, Cloud and Digital Transformation.
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