Infosys Ltd. (INFY) Posts Earnings Results
Infosys Ltd. (NYSE:INFY) announced its quarterly earnings results on Friday. The company reported $0.24 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.24. The business earned $2.59 billion during the quarter, compared to analyst estimates of $2.60 billion. Infosys had a net margin of 21.41% and a return on equity of 23.24%. During the same quarter in the previous year, the business posted $0.23 EPS.
Shares of Infosys (NYSE:INFY) opened at 16.65 on Friday. The stock has a market capitalization of $38.06 billion, a P/E ratio of 18.30 and a beta of 1.07. The firm’s 50-day moving average is $16.02 and its 200 day moving average is $17.52. Infosys has a 12-month low of $15.48 and a 12-month high of $20.47.
The firm also recently disclosed a dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Monday, October 24th will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, October 20th. Infosys’s dividend payout ratio (DPR) is presently 35.16%.
Institutional investors have recently bought and sold shares of the company. Wetherby Asset Management Inc. increased its position in shares of Infosys by 5.0% in the second quarter. Wetherby Asset Management Inc. now owns 32,901 shares of the company’s stock valued at $587,000 after buying an additional 1,572 shares during the last quarter. Peapack Gladstone Financial Corp increased its position in shares of Infosys by 17.3% in the second quarter. Peapack Gladstone Financial Corp now owns 14,920 shares of the company’s stock valued at $266,000 after buying an additional 2,200 shares during the last quarter. US Bancorp DE increased its position in shares of Infosys by 14.0% in the second quarter. US Bancorp DE now owns 18,122 shares of the company’s stock valued at $323,000 after buying an additional 2,222 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Infosys by 15.5% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,028 shares of the company’s stock valued at $661,000 after buying an additional 4,966 shares during the last quarter. Finally, Paloma Partners Management Co increased its position in shares of Infosys by 60.4% in the second quarter. Paloma Partners Management Co now owns 16,336 shares of the company’s stock valued at $292,000 after buying an additional 6,149 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.
INFY has been the topic of a number of analyst reports. Wedbush initiated coverage on shares of Infosys in a report on Thursday, September 8th. They set a “neutral” rating and a $18.00 price objective on the stock. Cantor Fitzgerald reaffirmed a “hold” rating and set a $17.00 price objective on shares of Infosys in a report on Monday, September 12th. Zacks Investment Research raised shares of Infosys from a “sell” rating to a “hold” rating in a report on Wednesday, September 21st. Pacific Crest reaffirmed a “hold” rating on shares of Infosys in a report on Monday. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of Infosys in a report on Tuesday, August 16th. Thirteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $17.97.
Infosys 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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