Advisors Asset Management Inc. increased its holdings in shares of Infosys Ltd (NYSE:INFY) by 10.2% in the second quarter, HoldingsChannel.com reports. The firm owned 66,850 shares of the technology company’s stock after buying an additional 6,200 shares during the quarter. Advisors Asset Management Inc.’s holdings in Infosys were worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also modified their holdings of the stock. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Infosys by 269.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,540 shares of the technology company’s stock worth $108,000 after acquiring an additional 4,040 shares during the period. Cornerstone Wealth Management LLC acquired a new stake in shares of Infosys in the 2nd quarter worth $465,000. TIAA FSB acquired a new stake in shares of Infosys in the 2nd quarter worth $203,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Infosys by 70.9% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,277 shares of the technology company’s stock worth $219,000 after acquiring an additional 4,680 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Infosys in the 2nd quarter worth $222,000. Hedge funds and other institutional investors own 8.99% of the company’s stock.
Shares of NYSE INFY opened at $9.30 on Friday. Infosys Ltd has a 52 week low of $7.16 and a 52 week high of $10.65. The stock has a market capitalization of $39.94 billion, a P/E ratio of 18.60, a P/E/G ratio of 1.77 and a beta of 0.41.
Infosys (NYSE:INFY) last announced its quarterly earnings data on Tuesday, October 16th. The technology company reported $0.13 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. Infosys had a net margin of 21.94% and a return on equity of 24.56%. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter last year, the business earned $0.13 earnings per share. Research analysts forecast that Infosys Ltd will post 0.52 EPS for the current fiscal year.
The business also recently disclosed a dividend, which was paid on Friday, October 26th. Investors of record on Friday, October 26th were paid a $0.085 dividend. The ex-dividend date was Thursday, October 25th. Infosys’s dividend payout ratio (DPR) is 34.00%.
Several research firms have recently commented on INFY. ValuEngine cut shares of Infosys from a “hold” rating to a “sell” rating in a research note on Thursday. Cantor Fitzgerald raised their target price on shares of Infosys from $16.00 to $19.00 and gave the stock a “neutral” rating in a research note on Monday, July 16th. BMO Capital Markets restated a “hold” rating and issued a $11.00 target price on shares of Infosys in a research note on Wednesday, October 17th. Deutsche Bank began coverage on shares of Infosys in a research note on Thursday, July 12th. They issued a “buy” rating for the company. Finally, Cowen raised their target price on shares of Infosys from $16.00 to $17.00 and gave the stock a “market perform” rating in a research note on Monday, July 16th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $15.26.
Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.
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