ClariVest Asset Management LLC Boosts Stake in Infosys Ltd. (INFY)
ClariVest Asset Management LLC raised its position in Infosys Ltd. (NYSE:INFY) by 16.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 865,842 shares of the company’s stock after buying an additional 124,700 shares during the period. ClariVest Asset Management LLC’s holdings in Infosys were worth $15,455,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. M&T Bank Corp purchased a new stake in Infosys during the first quarter worth $213,000. Alps Advisors Inc. increased its stake in Infosys by 46.5% in the second quarter. Alps Advisors Inc. now owns 17,497 shares of the company’s stock worth $312,000 after buying an additional 5,556 shares during the period. Orbis Allan Gray Ltd purchased a new stake in Infosys during the first quarter worth $342,000. Bayesian Capital Management LP purchased a new stake in Infosys during the first quarter worth $641,000. Finally, Flossbach Von Storch AG purchased a new stake in Infosys during the second quarter worth $741,000. Hedge funds and other institutional investors own 17.62% of the company’s stock.
Shares of Infosys Ltd. (NYSE:INFY) traded down 1.25% during mid-day trading on Thursday, hitting $15.76. The stock had a trading volume of 2,394,243 shares. The stock has a 50 day moving average of $16.04 and a 200-day moving average of $17.62. The stock has a market capitalization of $36.02 billion, a P/E ratio of 17.32 and a beta of 1.07. Infosys Ltd. has a 52 week low of $15.64 and a 52 week high of $20.47.
Infosys (NYSE:INFY) last posted its quarterly earnings data on Friday, July 15th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by $0.01. The firm had revenue of $2.50 billion for the quarter. Infosys had a return on equity of 23.24% and a net margin of 21.41%. Infosys’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 earnings per share. On average, equities research analysts predict that Infosys Ltd. will post $0.95 earnings per share for the current year.
A number of research firms have recently weighed in on INFY. Nomura downgraded Infosys from a “buy” rating to a “neutral” rating in a research note on Monday, July 18th. Credit Suisse Group AG downgraded Infosys from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $15.71 to $16.81 in a research note on Monday, July 18th. Cantor Fitzgerald reissued a “hold” rating on shares of Infosys in a research note on Monday, August 8th. Zacks Investment Research raised Infosys from a “sell” rating to a “hold” rating in a research note on Wednesday, September 21st. Finally, Wedbush began coverage on Infosys in a research note on Thursday, September 8th. They issued a “neutral” rating and a $18.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Infosys presently has an average rating of “Hold” and an average target price of $18.23.
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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