Strategic Wealth Partners Ltd. boosted its stake in shares of Infosys Ltd (NYSE:INFY) by 100.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,000 shares of the technology company’s stock after acquiring an additional 4,000 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Infosys were worth $81,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Clearbridge Investments LLC grew its stake in Infosys by 95.0% during the third quarter. Clearbridge Investments LLC now owns 1,979,955 shares of the technology company’s stock valued at $20,136,000 after acquiring an additional 964,819 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Infosys by 109.4% in the 3rd quarter. Vanguard Group Inc. now owns 10,580,778 shares of the technology company’s stock worth $107,606,000 after buying an additional 5,527,728 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Infosys by 92.3% in the 3rd quarter. Legal & General Group Plc now owns 312,450 shares of the technology company’s stock worth $3,176,000 after buying an additional 149,943 shares in the last quarter. Cornerstone Advisors Inc. grew its stake in shares of Infosys by 107.3% in the 3rd quarter. Cornerstone Advisors Inc. now owns 13,748 shares of the technology company’s stock worth $140,000 after buying an additional 7,116 shares in the last quarter. Finally, Csenge Advisory Group purchased a new position in shares of Infosys in the 3rd quarter worth $163,000. 18.19% of the stock is owned by institutional investors.
A number of equities analysts have commented on the stock. ValuEngine raised shares of Infosys from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Wedbush dropped their price objective on shares of Infosys from $18.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, November 27th. BMO Capital Markets reissued a “hold” rating and issued a $11.00 price objective on shares of Infosys in a research note on Wednesday, October 17th. Morgan Stanley cut shares of Infosys from an “overweight” rating to a “hold” rating in a research note on Monday, August 20th. Finally, Goldman Sachs Group cut shares of Infosys from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research note on Wednesday, October 17th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $14.63.
Infosys (NYSE:INFY) last released its earnings results on Tuesday, October 16th. The technology company reported $0.13 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.13. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.89 billion. Infosys had a net margin of 21.94% and a return on equity of 24.56%. During the same quarter last year, the business earned $0.13 EPS. On average, research analysts expect that Infosys Ltd will post 0.52 earnings per share for the current fiscal year.
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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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