ClariVest Asset Management LLC boosted its stake in Infosys Ltd. (NYSE:INFY) by 16.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 865,842 shares of the company’s stock after buying an additional 124,700 shares during the period. ClariVest Asset Management LLC’s holdings in Infosys were worth $15,455,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. M&T Bank Corp purchased a new position in Infosys during the first quarter valued at $213,000. Alps Advisors Inc. boosted its position in Infosys by 46.5% in the second quarter. Alps Advisors Inc. now owns 17,497 shares of the company’s stock valued at $312,000 after buying an additional 5,556 shares in the last quarter. Orbis Allan Gray Ltd purchased a new position in Infosys during the first quarter valued at $342,000. Bayesian Capital Management LP purchased a new position in Infosys during the first quarter valued at $641,000. Finally, Flossbach Von Storch AG purchased a new position in Infosys during the second quarter valued at $741,000. 17.62% of the stock is owned by institutional investors.
Shares of Infosys Ltd. (NYSE:INFY) traded down 1.25% during trading on Thursday, hitting $15.76. The stock had a trading volume of 2,394,243 shares. The company’s 50 day moving average price is $16.04 and its 200 day moving average price is $17.62. The company has a market capitalization of $36.02 billion, a price-to-earnings ratio of 17.32 and a beta of 1.07. Infosys Ltd. has a 52 week low of $15.64 and a 52 week high of $20.47.
Infosys (NYSE:INFY) last issued its earnings results on Friday, July 15th. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The firm earned $2.50 billion during the quarter. Infosys had a net margin of 21.41% and a return on equity of 23.24%. Infosys’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 EPS. Analysts predict that Infosys Ltd. will post $0.95 earnings per share for the current year.
Several analysts recently issued reports on INFY shares. Zacks Investment Research lowered Infosys from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. Credit Suisse Group AG lowered Infosys from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $15.71 to $16.81 in a report on Monday, July 18th. BMO Capital Markets reiterated a “hold” rating on shares of Infosys in a report on Monday, July 18th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Infosys in a report on Friday, July 15th. Finally, HSBC lowered Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Fourteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $18.23.
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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