LSV Asset Management Raises Position in Infosys Limited (INFY)
LSV Asset Management increased its stake in Infosys Limited (NYSE:INFY) by 45.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,200 shares of the technology company’s stock after purchasing an additional 8,800 shares during the quarter. LSV Asset Management’s holdings in Infosys Limited were worth $423,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Segantii Capital Management Ltd boosted its stake in shares of Infosys Limited by 174.6% during the 1st quarter. Segantii Capital Management Ltd now owns 9,242,781 shares of the technology company’s stock worth $145,683,000 after acquiring an additional 5,876,412 shares during the last quarter. Yacktman Asset Management LP purchased a new position in shares of Infosys Limited during the 2nd quarter worth $57,772,000. Morgan Stanley boosted its stake in shares of Infosys Limited by 85.8% during the 1st quarter. Morgan Stanley now owns 6,179,328 shares of the technology company’s stock worth $97,633,000 after acquiring an additional 2,853,808 shares during the last quarter. Sustainable Growth Advisers LP boosted its stake in shares of Infosys Limited by 104.0% during the 2nd quarter. Sustainable Growth Advisers LP now owns 5,361,595 shares of the technology company’s stock worth $80,531,000 after acquiring an additional 2,733,992 shares during the last quarter. Finally, Seafarer Capital Partners LLC boosted its stake in shares of Infosys Limited by 29.1% during the 2nd quarter. Seafarer Capital Partners LLC now owns 9,655,000 shares of the technology company’s stock worth $145,018,000 after acquiring an additional 2,177,500 shares during the last quarter. Institutional investors own 19.86% of the company’s stock.
Shares of Infosys Limited (NYSE INFY) opened at 14.59 on Monday. The stock’s 50 day moving average is $15.09 and its 200 day moving average is $15.16. Infosys Limited has a 12 month low of $13.42 and a 12 month high of $16.71. The company has a market capitalization of $33.35 billion, a P/E ratio of 15.37 and a beta of 0.79.
Infosys Limited (NYSE:INFY) last announced its quarterly earnings results on Friday, July 14th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.01. Infosys Limited had a net margin of 20.95% and a return on equity of 21.37%. The firm had revenue of $170.78 billion for the quarter, compared to the consensus estimate of $170.51 billion. During the same period in the prior year, the firm posted $0.22 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities analysts predict that Infosys Limited will post $0.98 EPS for the current fiscal year.
Several research analysts have recently weighed in on INFY shares. J P Morgan Chase & Co cut shares of Infosys Limited from an “overweight” rating to a “neutral” rating in a research note on Monday, August 21st. Zacks Investment Research upgraded shares of Infosys Limited from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Wednesday, September 6th. Deutsche Bank AG upgraded shares of Infosys Limited from a “hold” rating to a “buy” rating in a research note on Monday, August 28th. Robert W. Baird reiterated a “hold” rating and set a $16.00 price target on shares of Infosys Limited in a research note on Sunday, September 3rd. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $15.00 price target on shares of Infosys Limited in a research note on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $15.34.
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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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