Private Advisor Group LLC Buys 2,824 Shares of Infosys Ltd. (INFY)
Private Advisor Group LLC increased its position in shares of Infosys Ltd. (NYSE:INFY) by 24.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,614 shares of the company’s stock after buying an additional 2,824 shares during the period. Private Advisor Group LLC’s holdings in Infosys were worth $258,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of INFY. PNC Financial Services Group Inc. increased its stake in shares of Infosys by 21.3% in the second quarter. PNC Financial Services Group Inc. now owns 5,702 shares of the company’s stock valued at $103,000 after buying an additional 1,000 shares in the last quarter. Glenmede Trust Co. NA increased its stake in shares of Infosys by 9.5% in the second quarter. Glenmede Trust Co. NA now owns 9,897 shares of the company’s stock valued at $176,000 after buying an additional 861 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of Infosys during the first quarter valued at $213,000. Alps Advisors Inc. increased its stake in shares of Infosys by 46.5% in the second quarter. Alps Advisors Inc. now owns 17,497 shares of the company’s stock valued at $312,000 after buying an additional 5,556 shares in the last quarter. Finally, Orbis Allan Gray Ltd acquired a new stake in shares of Infosys during the first quarter valued at $342,000. 17.62% of the stock is currently owned by institutional investors.
Infosys Ltd. (NYSE:INFY) traded down 1.17% during mid-day trading on Friday, hitting $16.06. The stock had a trading volume of 474,738 shares. Infosys Ltd. has a 12-month low of $15.64 and a 12-month high of $20.47. The firm has a market cap of $36.71 billion, a P/E ratio of 17.65 and a beta of 0.99. The stock has a 50-day moving average price of $16.13 and a 200 day moving average price of $17.77.
Infosys (NYSE:INFY) last released its quarterly earnings data on Friday, July 15th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by $0.01. Infosys had a net margin of 21.41% and a return on equity of 23.24%. The business earned $2.50 billion during the quarter. During the same quarter in the prior year, the firm posted $0.21 EPS. The business’s revenue was up 16.9% on a year-over-year basis. Equities analysts anticipate that Infosys Ltd. will post $0.96 EPS for the current fiscal year.
INFY has been the subject of several recent analyst reports. Wedbush initiated coverage on Infosys in a report on Thursday, September 8th. They issued a “neutral” rating and a $18.00 price target for the company. Cantor Fitzgerald reissued a “hold” rating and issued a $17.00 price target on shares of Infosys in a report on Monday, September 12th. Zacks Investment Research raised Infosys from a “sell” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Co. reissued a “hold” rating on shares of Infosys in a report on Tuesday, August 16th. Finally, HSBC downgraded Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Fifteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.23.
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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