Infosys Limited (INFY) Position Lowered by Segantii Capital Management Ltd
Segantii Capital Management Ltd decreased its position in shares of Infosys Limited (NYSE:INFY) by 39.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,598,911 shares of the technology company’s stock after selling 3,643,870 shares during the period. Infosys Limited makes up 19.9% of Segantii Capital Management Ltd’s portfolio, making the stock its largest position. Segantii Capital Management Ltd’s holdings in Infosys Limited were worth $82,728,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the stock. Kernodle & Katon Asset Management Group LLC acquired a new position in shares of Infosys Limited during the first quarter worth approximately $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 in the last quarter. Personal Capital Advisors Corp acquired a new position in shares of Infosys Limited during the second quarter worth approximately $166,000. Greenleaf Trust acquired a new position in shares of Infosys Limited during the first quarter worth approximately $168,000. Finally, OLD National Bancorp IN acquired a new position in shares of Infosys Limited during the second quarter worth approximately $185,000. 20.77% of the stock is owned by hedge funds and other institutional investors.
Infosys Limited (NYSE:INFY) opened at 15.60 on Thursday. The firm has a 50-day moving average price of $15.40 and a 200-day moving average price of $15.07. Infosys Limited has a 12-month low of $13.42 and a 12-month high of $16.71. The company has a market cap of $35.66 billion, a P/E ratio of 16.44 and a beta of 0.79.
Infosys Limited (NYSE:INFY) last posted its quarterly earnings data on Friday, July 14th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. Infosys Limited had a return on equity of 21.37% and a net margin of 20.95%. The company had revenue of $170.78 billion during the quarter, compared to analysts’ expectations of $170.51 billion. During the same quarter in the previous year, the business earned $0.22 EPS. Infosys Limited’s revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts forecast that Infosys Limited will post $0.98 earnings per share for the current fiscal year.
A number of brokerages recently commented on INFY. HSBC Holdings plc upgraded Infosys Limited from a “hold” rating to a “buy” rating in a report on Thursday, June 8th. Zacks Investment Research downgraded Infosys Limited from a “hold” rating to a “sell” rating in a report on Monday, May 15th. BidaskClub upgraded Infosys Limited from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Cantor Fitzgerald restated a “hold” rating and set a $15.00 target price on shares of Infosys Limited in a report on Friday, July 14th. Finally, Stifel Nicolaus restated a “hold” rating and set a $15.50 target price on shares of Infosys Limited in a report on Tuesday, April 18th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. Infosys Limited has an average rating of “Hold” and an average price target 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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