Somerset Capital Management LLP cut its stake in Infosys Limited (NYSE:INFY) by 2.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,596,414 shares of the technology company’s stock after selling 47,771 shares during the period. Infosys Limited makes up about 6.9% of Somerset Capital Management LLP’s investment portfolio, making the stock its 4th largest position. Somerset Capital Management LLP owned 0.07% of Infosys Limited worth $23,978,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Creative Planning boosted its position in Infosys Limited by 3.3% in the first quarter. Creative Planning now owns 24,159 shares of the technology company’s stock valued at $382,000 after buying an additional 782 shares during the last quarter. Sigma Planning Corp acquired a new position in Infosys Limited during the first quarter valued at about $188,000. Profund Advisors LLC boosted its position in Infosys Limited by 13.9% in the first quarter. Profund Advisors LLC now owns 133,285 shares of the technology company’s stock valued at $2,106,000 after buying an additional 16,238 shares during the last quarter. Acadian Asset Management LLC boosted its position in Infosys Limited by 69.1% in the first quarter. Acadian Asset Management LLC now owns 4,474,722 shares of the technology company’s stock valued at $70,701,000 after buying an additional 1,828,502 shares during the last quarter. Finally, First Mercantile Trust Co. boosted its position in Infosys Limited by 58.4% in the first quarter. First Mercantile Trust Co. now owns 51,150 shares of the technology company’s stock valued at $808,000 after buying an additional 18,850 shares during the last quarter. 20.54% of the stock is owned by institutional investors.
Infosys Limited (NYSE INFY) traded down 2.40% during trading on Tuesday, hitting $14.21. The company had a trading volume of 3,364,014 shares. Infosys Limited has a 12-month low of $13.42 and a 12-month high of $16.71. The company has a market capitalization of $32.48 billion, a price-to-earnings ratio of 14.97 and a beta of 0.79. The firm has a 50-day moving average of $15.50 and a 200 day moving average of $15.17.
Infosys Limited (NYSE:INFY) last posted its earnings results on Friday, July 14th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Infosys Limited had a return on equity of 21.37% and a net margin of 20.95%. The firm had revenue of $170.78 billion during the quarter, compared to analysts’ expectations of $170.51 billion. During the same period in the previous year, the firm earned $0.22 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts forecast that Infosys Limited will post $0.98 earnings per share for the current year.
Several research analysts have recently issued reports on INFY shares. Zacks Investment Research cut Infosys Limited from a “hold” rating to a “sell” rating in a research note on Monday, May 15th. HSBC Holdings plc raised Infosys Limited from a “hold” rating to a “buy” rating in a research note on Thursday, June 8th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating on shares of Infosys Limited in a research note on Friday, June 9th. BidaskClub raised Infosys Limited from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $15.00 price target on shares of Infosys Limited in a research note on Friday, July 14th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. Infosys Limited presently has an average rating of “Hold” and an average price target of $16.25.
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.
Receive News & Ratings for Infosys Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infosys Limited and related companies with MarketBeat.com's FREE daily email newsletter.