Baillie Gifford & Co. lowered its stake in Infosys Limited (NYSE:INFY) by 27.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,477,352 shares of the technology company’s stock after selling 1,346,549 shares during the quarter. Baillie Gifford & Co. owned about 0.15% of Infosys Limited worth $52,230,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of INFY. Kernodle & Katon Asset Management Group LLC bought a new stake in Infosys Limited in the first quarter worth about $100,000. PNC Financial Services Group Inc. raised 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 worth $120,000 after acquiring an additional 3,400 shares in the last quarter. Equity Investment Corp Acquisition Inc bought a new stake in Infosys Limited in the second quarter worth about $151,000. Personal Capital Advisors Corp bought a new stake in Infosys Limited in the second quarter worth about $166,000. Finally, Greenleaf Trust raised its position in Infosys Limited by 13.5% in the second quarter. Greenleaf Trust now owns 12,045 shares of the technology company’s stock worth $181,000 after acquiring an additional 1,437 shares in the last quarter. 19.86% of the stock is owned by institutional investors and hedge funds.
INFY has been the topic of several research reports. J P Morgan Chase & Co cut shares of Infosys Limited from an “overweight” rating to a “neutral” rating in a research report on Monday, August 21st. Zacks Investment Research downgraded Infosys Limited from a “hold” rating to a “sell” rating in a report on Monday, May 15th. Deutsche Bank AG upgraded Infosys Limited from a “hold” rating to a “buy” rating in a report on Monday, August 28th. Cantor Fitzgerald restated a “hold” rating and set a $15.00 price objective on shares of Infosys Limited in a report on Friday, July 14th. Finally, BidaskClub upgraded Infosys Limited from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Three 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’s stock. The company has an average rating of “Hold” and an average target price of $15.58.
Shares of Infosys Limited (NYSE INFY) traded up 0.172% during midday trading on Monday, reaching $14.555. The company’s stock had a trading volume of 802,093 shares. The firm has a market cap of $33.27 billion, a price-to-earnings ratio of 15.337 and a beta of 0.79. The company has a 50-day moving average price of $15.31 and a 200-day moving average price of $15.19. Infosys Limited has a 12 month low of $13.42 and a 12 month high of $16.71.
Infosys Limited (NYSE:INFY) last posted its quarterly earnings results on Friday, July 14th. The technology company reported $0.24 earnings per share 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 firm had revenue of $170.78 billion during the quarter, compared to the consensus estimate of $170.51 billion. During the same period last year, the company earned $0.22 earnings per share. The business’s revenue was up 1.8% compared to the same quarter last year. Equities analysts expect that Infosys Limited will post $0.99 earnings per share for the current year.
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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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