Earnest Partners LLC Acquires 25,392 Shares of Infosys Limited (NYSE:INFY)

Earnest Partners LLC lifted its stake in Infosys Limited (NYSE:INFY) by 20.7% during the second quarter, HoldingsChannel reports. The firm owned 147,862 shares of the technology company’s stock after purchasing an additional 25,392 shares during the period. Earnest Partners LLC’s holdings in Infosys were worth $2,753,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in INFY. Bank of Montreal Can increased its position in shares of Infosys by 333.5% during the second quarter. Bank of Montreal Can now owns 90,597 shares of the technology company’s stock worth $1,687,000 after acquiring an additional 69,697 shares during the period. Frank Rimerman Advisors LLC bought a new position in Infosys in the second quarter worth approximately $1,293,000. Profund Advisors LLC increased its holdings in Infosys by 8.6% during the 2nd quarter. Profund Advisors LLC now owns 96,829 shares of the technology company’s stock worth $1,803,000 after purchasing an additional 7,640 shares during the period. Sei Investments Co. raised its position in Infosys by 2.2% during the 2nd quarter. Sei Investments Co. now owns 1,038,666 shares of the technology company’s stock valued at $19,340,000 after purchasing an additional 21,961 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Infosys by 37.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock worth $401,826,000 after buying an additional 5,862,144 shares during the period. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on INFY shares. Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.27.

Infosys Trading Down 2.5 %

NYSE INFY opened at $22.39 on Friday. The firm’s fifty day simple moving average is $22.38 and its two-hundred day simple moving average is $19.52. The firm has a market capitalization of $92.69 billion, a P/E ratio of 29.46, a P/E/G ratio of 3.59 and a beta of 0.99. Infosys Limited has a 12-month low of $16.04 and a 12-month high of $23.48.

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

Infosys Profile

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.