Infosys Limited (NYSE:INFY) Shares Bought by Wetherby Asset Management Inc.
Wetherby Asset Management Inc. increased its stake in Infosys Limited (NYSE:INFY) by 1.1% during the second quarter, Holdings Channel reports. The institutional investor owned 40,994 shares of the technology company’s stock after buying an additional 464 shares during the period. Wetherby Asset Management Inc.’s holdings in Infosys Limited were worth $616,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Kernodle & Katon Asset Management Group LLC bought a new stake in Infosys Limited during the first quarter valued at about $100,000. PNC Financial Services Group Inc. boosted its stake 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 valued at $120,000 after buying an additional 3,400 shares in the last quarter. Personal Capital Advisors Corp bought a new stake in Infosys Limited during the second quarter valued at about $166,000. Greenleaf Trust bought a new stake in Infosys Limited during the first quarter valued at about $168,000. Finally, OLD National Bancorp IN bought a new stake in Infosys Limited during the second quarter valued at about $185,000. 20.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of Infosys Limited (INFY) opened at 15.49 on Friday. Infosys Limited has a 1-year low of $13.42 and a 1-year high of $16.71. The stock’s 50 day moving average is $15.43 and its 200-day moving average is $15.08. The stock has a market cap of $35.41 billion, a price-to-earnings ratio of 16.32 and a beta of 0.79.
Infosys Limited (NYSE:INFY) last announced its earnings results on Friday, July 14th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $170.78 billion during the quarter, compared to analysts’ expectations of $170.51 billion. Infosys Limited had a return on equity of 21.37% and a net margin of 20.95%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. On average, analysts anticipate that Infosys Limited will post $0.98 EPS for the current year.
A number of research analysts have weighed in on the stock. BidaskClub raised shares of Infosys Limited from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. HSBC Holdings plc raised shares of Infosys Limited from a “hold” rating to a “buy” rating in a research report on Thursday, June 8th. Zacks Investment Research cut shares of Infosys Limited from a “hold” rating to a “sell” rating in a research report on Monday, May 15th. Stifel Nicolaus reaffirmed a “hold” rating and set a $15.50 price target on shares of Infosys Limited in a research report on Tuesday, April 18th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $15.00 price target on shares of Infosys Limited in a research report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $16.08.
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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