Infosys (INFY) Issues Quarterly Earnings Results, Meets Estimates
Infosys (NYSE:INFY) issued its quarterly earnings data on Friday. The technology company reported $0.25 earnings per share for the quarter, hitting the consensus estimate of $0.25, Morningstar.com reports. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.74 billion. Infosys had a return on equity of 21.05% and a net margin of 21.04%. During the same period in the prior year, the business posted $0.24 earnings per share.
Infosys (NYSE INFY) traded down $0.46 on Friday, hitting $16.81. The stock had a trading volume of 8,807,002 shares, compared to its average volume of 4,888,467. Infosys has a 1-year low of $13.42 and a 1-year high of $17.37. The stock has a market capitalization of $39,480.72, a price-to-earnings ratio of 17.33, a P/E/G ratio of 1.97 and a beta of 0.69.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its position in shares of Infosys by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 18,729 shares of the technology company’s stock worth $282,000 after buying an additional 395 shares during the period. M&T Bank Corp boosted its position in shares of Infosys by 0.9% during the second quarter. M&T Bank Corp now owns 68,760 shares of the technology company’s stock worth $1,033,000 after buying an additional 590 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Infosys by 4.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 13,365 shares of the technology company’s stock valued at $201,000 after acquiring an additional 605 shares in the last quarter. Peapack Gladstone Financial Corp raised its stake in shares of Infosys by 6.0% in the second quarter. Peapack Gladstone Financial Corp now owns 17,720 shares of the technology company’s stock valued at $266,000 after acquiring an additional 1,000 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Infosys by 1.7% in the second quarter. American Century Companies Inc. now owns 78,808 shares of the technology company’s stock valued at $1,184,000 after acquiring an additional 1,280 shares in the last quarter. Institutional investors and hedge funds own 18.85% of the company’s stock.
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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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