Infosys Ltd. (NYSE:INFY) announced its earnings results on Friday. The company reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Infosys had a return on equity of 23.24% and a net margin of 21.41%. During the same period last year, the firm posted $0.23 earnings per share.

Shares of Infosys (NYSE:INFY) opened at 16.65 on Friday. Infosys has a 1-year low of $15.48 and a 1-year high of $20.47. The company has a market cap of $38.06 billion, a P/E ratio of 18.30 and a beta of 1.07. The firm has a 50-day moving average price of $16.02 and a 200-day moving average price of $17.52.

Earnings History for Infosys (NYSE:INFY)

Several research analysts have issued reports on INFY shares. Zacks Investment Research cut Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, June 21st. BMO Capital Markets reissued a “hold” rating on shares of Infosys in a research report on Monday, July 18th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Infosys in a research report on Friday, July 15th. Wells Fargo & Co. reissued a “hold” rating on shares of Infosys in a research report on Tuesday, August 16th. Finally, HSBC cut Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Thirteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $17.97.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Peapack Gladstone Financial Corp increased its stake in shares of Infosys by 17.3% in the second quarter. Peapack Gladstone Financial Corp now owns 14,920 shares of the company’s stock worth $266,000 after buying an additional 2,200 shares during the period. Paloma Partners Management Co increased its stake in shares of Infosys by 60.4% in the second quarter. Paloma Partners Management Co now owns 16,336 shares of the company’s stock worth $292,000 after buying an additional 6,149 shares during the period. US Bancorp DE increased its stake in shares of Infosys by 14.0% in the second quarter. US Bancorp DE now owns 18,122 shares of the company’s stock worth $323,000 after buying an additional 2,222 shares during the period. Wetherby Asset Management Inc. increased its stake in shares of Infosys by 5.0% in the second quarter. Wetherby Asset Management Inc. now owns 32,901 shares of the company’s stock worth $587,000 after buying an additional 1,572 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Infosys by 15.5% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,028 shares of the company’s stock worth $661,000 after buying an additional 4,966 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

About Infosys

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.

5 Day Chart for NYSE:INFY

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