Nationwide Fund Advisors Cuts Stake in Infosys Ltd. (INFY)
Nationwide Fund Advisors lowered its position in Infosys Ltd. (NYSE:INFY) by 53.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,971 shares of the company’s stock after selling 105,333 shares during the period. Nationwide Fund Advisors’ holdings in Infosys were worth $1,467,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in Infosys by 21.3% in the second quarter. PNC Financial Services Group Inc. now owns 5,702 shares of the company’s stock worth $103,000 after buying an additional 1,000 shares in the last quarter. Ranger International Management LP increased its stake in Infosys by 97.7% in the second quarter. Ranger International Management LP now owns 7,000 shares of the company’s stock worth $125,000 after buying an additional 3,460 shares in the last quarter. Glenmede Trust Co. NA increased its stake in Infosys by 9.5% in the second quarter. Glenmede Trust Co. NA now owns 9,897 shares of the company’s stock worth $176,000 after buying an additional 861 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Infosys by 870.4% in the second quarter. Tower Research Capital LLC TRC now owns 10,655 shares of the company’s stock worth $190,000 after buying an additional 9,557 shares in the last quarter. Finally, M&T Bank Corp increased its stake in Infosys by 2.2% in the second quarter. M&T Bank Corp now owns 11,410 shares of the company’s stock worth $204,000 after buying an additional 251 shares in the last quarter. 17.17% of the stock is owned by institutional investors.
Infosys Ltd. (NYSE:INFY) traded up 0.21% during mid-day trading on Monday, hitting $14.56. The stock had a trading volume of 6,962,335 shares. Infosys Ltd. has a 52 week low of $13.74 and a 52 week high of $20.47. The firm has a market cap of $33.28 billion, a PE ratio of 15.83 and a beta of 1.00. The company’s 50 day moving average price is $15.08 and its 200 day moving average price is $16.63.
Infosys (NYSE:INFY) last released its quarterly earnings results on Friday, October 14th. The company reported $0.24 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.24. Infosys had a return on equity of 22.84% and a net margin of 21.19%. The company had revenue of $2.59 billion for the quarter. During the same quarter in the prior year, the firm earned $0.23 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts anticipate that Infosys Ltd. will post $0.94 earnings per share for the current year.
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A number of research analysts recently commented on the company. Clsa Americas reaffirmed an “outperform” rating on shares of Infosys in a research note on Tuesday, November 15th. Cantor Fitzgerald set a $17.00 price target on Infosys and gave the company a “hold” rating in a research note on Saturday, October 15th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $17.00 price target (down previously from $19.00) on shares of Infosys in a research note on Tuesday, October 18th. Zacks Investment Research raised Infosys from a “sell” rating to a “hold” rating in a research note on Friday, October 21st. Finally, HSBC downgraded Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Thirteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $17.83.
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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