PFG Investments LLC Cuts Position in Infosys Limited (NYSE:INFY)

PFG Investments LLC lowered its holdings in shares of Infosys Limited (NYSE:INFY) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,199 shares of the technology company’s stock after selling 1,028 shares during the quarter. PFG Investments LLC’s holdings in Infosys were worth $506,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Acadian Asset Management LLC raised its stake in shares of Infosys by 106.1% during the 1st quarter. Acadian Asset Management LLC now owns 4,839,764 shares of the technology company’s stock worth $86,764,000 after buying an additional 2,491,403 shares during the period. Wellington Management Group LLP increased its holdings in Infosys by 539.8% in the 4th quarter. Wellington Management Group LLP now owns 2,010,636 shares of the technology company’s stock worth $36,955,000 after acquiring an additional 1,696,378 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Infosys by 76.1% during the first quarter. Daiwa Securities Group Inc. now owns 3,585,850 shares of the technology company’s stock worth $64,294,000 after acquiring an additional 1,549,650 shares during the period. BNP Paribas Financial Markets lifted its holdings in Infosys by 49.3% during the first quarter. BNP Paribas Financial Markets now owns 3,741,065 shares of the technology company’s stock valued at $67,077,000 after purchasing an additional 1,235,140 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Infosys by 20.7% in the fourth quarter. Franklin Resources Inc. now owns 6,719,669 shares of the technology company’s stock valued at $123,508,000 after purchasing an additional 1,150,885 shares during the period. 10.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INFY has been the topic of a number of research reports. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. Finally, Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Infosys presently has an average rating of “Hold” and a consensus target price of $19.27.

Infosys Stock Performance

NYSE INFY opened at $22.91 on Thursday. The stock’s fifty day moving average is $21.76 and its two-hundred day moving average is $19.25. The firm has a market capitalization of $94.85 billion, a P/E ratio of 30.14, a price-to-earnings-growth ratio of 3.57 and a beta of 0.99. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.48.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Infosys had a net margin of 17.18% and a return on equity of 32.01%. The firm had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the previous year, the company posted $0.17 EPS. As a group, sell-side analysts forecast that Infosys Limited will post 0.75 EPS for the current year.

About Infosys

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides digital marketing and digital workplace, digital commerce, digital experience and interactions, metaverse, data analytics and AI, applied AI, generative AI, sustainability, blockchain, engineering, Internet of Things, enterprise agile DevOps, application modernization, cloud, digital process automation, digital supply chain, Microsoft business application and cloud business, service experience transformation, energy transition, cyber security, and quality engineering solutions; Oracle, SAP, and Saleforce solutions; API economy and microservices; and Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies.