Prudential Financial Inc. Lowers Position in Infosys Limited (INFY)
Prudential Financial Inc. reduced its position in Infosys Limited (NYSE:INFY) by 36.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,008,014 shares of the technology company’s stock after selling 579,900 shares during the period. Prudential Financial Inc.’s holdings in Infosys Limited were worth $14,707,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Oldfield Partners LLP grew its holdings in Infosys Limited by 5.6% during the 3rd quarter. Oldfield Partners LLP now owns 3,107,302 shares of the technology company’s stock valued at $45,336,000 after buying an additional 165,800 shares in the last quarter. Mondrian Investment Partners LTD grew its holdings in Infosys Limited by 67.4% during the 3rd quarter. Mondrian Investment Partners LTD now owns 8,792,515 shares of the technology company’s stock valued at $128,283,000 after buying an additional 3,541,514 shares in the last quarter. Forward Management LLC grew its holdings in Infosys Limited by 49.9% during the 3rd quarter. Forward Management LLC now owns 311,381 shares of the technology company’s stock valued at $4,544,000 after buying an additional 103,658 shares in the last quarter. Stevens Capital Management LP purchased a new position in Infosys Limited during the 3rd quarter valued at about $320,000. Finally, Maple Brown Abbott Ltd grew its holdings in Infosys Limited by 20.0% during the 3rd quarter. Maple Brown Abbott Ltd now owns 2,397,066 shares of the technology company’s stock valued at $34,973,000 after buying an additional 398,867 shares in the last quarter. Institutional investors and hedge funds own 19.05% of the company’s stock.
Shares of Infosys Limited (INFY) opened at $15.08 on Tuesday. The firm has a market capitalization of $34,719.46, a P/E ratio of 15.66, a P/E/G ratio of 1.65 and a beta of 0.68. Infosys Limited has a 12-month low of $13.42 and a 12-month high of $16.15.
Infosys Limited (NYSE:INFY) last released its earnings results on Tuesday, October 24th. The technology company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.78 billion. Infosys Limited had a return on equity of 21.05% and a net margin of 21.04%. During the same quarter in the previous year, the company posted $0.24 EPS. equities analysts forecast that Infosys Limited will post 0.98 earnings per share for the current year.
The company also recently announced a dividend, which was paid on Wednesday, November 1st. Investors of record on Wednesday, November 1st were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, October 31st. Infosys Limited’s payout ratio is 40.21%.
A number of research analysts have weighed in on INFY shares. Zacks Investment Research raised Infosys Limited from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Tuesday, September 19th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Infosys Limited in a report on Tuesday, October 24th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Infosys Limited in a report on Thursday, October 26th. Cowen and Company reaffirmed a “hold” rating and set a $15.00 target price on shares of Infosys Limited in a report on Thursday, October 12th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating on shares of Infosys Limited in a report on Friday, August 25th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $15.34.
Infosys Limited 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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