SRN Advisors LLC Sells 19,432 Shares of Infosys Limited (NYSE:INFY)

SRN Advisors LLC reduced its position in Infosys Limited (NYSE:INFY) by 28.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,880 shares of the technology company’s stock after selling 19,432 shares during the period. SRN Advisors LLC’s holdings in Infosys were worth $910,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of INFY. GAMMA Investing LLC increased its position in Infosys by 33.0% during the 1st quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock valued at $43,000 after buying an additional 593 shares in the last quarter. Hilltop National Bank increased its holdings in shares of Infosys by 50.8% during the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after acquiring an additional 1,004 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Infosys by 126.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock valued at $56,000 after purchasing an additional 1,693 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in Infosys in the 4th quarter worth approximately $56,000. Finally, Hennessy Advisors Inc. purchased a new stake in Infosys during the 4th quarter worth approximately $123,000. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Wall Street Analyst Weigh In

INFY has been the topic of a number of research analyst reports. StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Monday. Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.27.

Infosys Stock Up 0.5 %

Shares of INFY opened at $22.39 on Wednesday. Infosys Limited has a 52 week low of $16.04 and a 52 week high of $23.48. The stock’s 50-day moving average price is $22.40 and its 200-day moving average price is $19.56. The company has a market capitalization of $92.67 billion, a price-to-earnings ratio of 29.45, a PEG ratio of 3.59 and a beta of 0.99.

Infosys (NYSE:INFY) last posted its earnings results on Thursday, July 18th. The technology company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Infosys had a return on equity of 32.01% and a net margin of 17.18%. During the same period last year, the firm earned $0.17 EPS. As a group, equities analysts anticipate that Infosys Limited will post 0.75 EPS 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.