Daiwa Securities Group Inc. Decreases Position in Infosys Limited (INFY)
Daiwa Securities Group Inc. reduced its stake in shares of Infosys Limited (NYSE:INFY) by 38.3% during the second quarter, Holdings Channel reports. The firm owned 55,500 shares of the technology company’s stock after selling 34,500 shares during the period. Daiwa Securities Group Inc.’s holdings in Infosys Limited were worth $834,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Kernodle & Katon Asset Management Group LLC purchased a new position in Infosys Limited during the first quarter valued at $100,000. PNC Financial Services Group Inc. increased its position in 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 valued at $120,000 after buying an additional 3,400 shares during the period. Greenleaf Trust purchased a new position in Infosys Limited during the first quarter valued at $168,000. Personal Capital Advisors Corp purchased a new position in Infosys Limited during the second quarter valued at $166,000. Finally, Sigma Planning Corp purchased a new position in Infosys Limited during the first quarter valued at $188,000. Institutional investors and hedge funds own 20.77% of the company’s stock.
Shares of Infosys Limited (NYSE INFY) opened at 15.49 on Friday. Infosys Limited has a 1-year low of $13.42 and a 1-year high of $16.71. The firm’s 50-day moving average price is $15.43 and its 200 day moving average price is $15.08. The firm has a market cap of $35.41 billion, a PE ratio of 16.32 and a beta of 0.79.
Infosys Limited (NYSE:INFY) last issued its quarterly earnings results on Friday, July 14th. The technology company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $170.51 billion. During the same quarter in the prior year, the company posted $0.22 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities research analysts forecast that Infosys Limited will post $0.98 EPS for the current fiscal year.
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INFY has been the topic of a number of analyst reports. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating on shares of Infosys Limited in a research report on Friday, June 9th. BidaskClub downgraded Infosys Limited from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research downgraded Infosys Limited from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Cantor Fitzgerald reiterated a “hold” rating and set a $15.00 price objective on shares of Infosys Limited in a research report on Friday, July 14th. Finally, HSBC Holdings plc upgraded Infosys Limited from a “hold” rating to a “buy” rating in a research report on Thursday, June 8th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus 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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