Nationwide Fund Advisors reduced its position in Infosys Limited (NYSE:INFY) by 64.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,126 shares of the technology company’s stock after selling 31,133 shares during the period. Nationwide Fund Advisors’ holdings in Infosys Limited were worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Infosys Limited by 4.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 13,365 shares of the technology company’s stock valued at $201,000 after purchasing an additional 605 shares during the period. HPM Partners LLC acquired a new position in shares of Infosys Limited in the 2nd quarter valued at $383,000. CIBC World Markets Inc. lifted its stake in shares of Infosys Limited by 30.6% in the 2nd quarter. CIBC World Markets Inc. now owns 56,395 shares of the technology company’s stock valued at $847,000 after purchasing an additional 13,228 shares during the period. Freestone Capital Holdings LLC lifted its stake in shares of Infosys Limited by 15.0% in the 2nd quarter. Freestone Capital Holdings LLC now owns 244,860 shares of the technology company’s stock valued at $3,678,000 after purchasing an additional 31,849 shares during the period. Finally, LSV Asset Management lifted its stake in shares of Infosys Limited by 45.4% in the 2nd quarter. LSV Asset Management now owns 28,200 shares of the technology company’s stock valued at $423,000 after purchasing an additional 8,800 shares during the period. Hedge funds and other institutional investors own 19.47% of the company’s stock.
A number of research firms have weighed in on INFY. BidaskClub cut shares of Infosys Limited from a “sell” rating to a “strong sell” rating in a research report on Saturday, November 4th. Stifel Nicolaus restated a “hold” rating on shares of Infosys Limited in a research report on Thursday, October 26th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Infosys Limited in a research report on Tuesday, October 24th. Cowen and Company restated a “hold” rating and set a $15.00 price objective on shares of Infosys Limited in a research report on Thursday, October 12th. Finally, Zacks Investment Research cut shares of Infosys Limited from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $15.34.
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Shares of Infosys Limited (NYSE INFY) opened at $15.01 on Monday. Infosys Limited has a 1-year low of $13.42 and a 1-year high of $16.15. The stock has a market cap of $34,308.04, a price-to-earnings ratio of 15.47, a PEG ratio of 1.63 and a beta of 0.68.
Infosys Limited (NYSE:INFY) last released its earnings results on Tuesday, October 24th. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. Infosys Limited had a net margin of 21.04% and a return on equity of 21.05%. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the prior year, the firm earned $0.24 earnings per share. analysts predict that Infosys Limited will post 0.98 earnings per share for the current fiscal year.
The firm also recently announced a dividend, which was paid on Wednesday, November 1st. Stockholders of record on Wednesday, November 1st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, October 31st. Infosys Limited’s payout ratio is 40.21%.
Infosys Limited Company Profile
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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