AQR Capital Management LLC increased its stake in Infosys Limited (NYSE:INFY) by 1.7% during the first quarter, Holdings Channel reports. The institutional investor owned 14,228,590 shares of the technology company’s stock after buying an additional 231,710 shares during the period. AQR Capital Management LLC owned about 0.62% of Infosys Limited worth $224,812,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Highbridge Capital Management LLC increased its stake in Infosys Limited by 434.5% in the first quarter. Highbridge Capital Management LLC now owns 91,400 shares of the technology company’s stock valued at $1,444,000 after buying an additional 74,300 shares during the period. Earnest Partners LLC increased its stake in Infosys Limited by 3.6% in the first quarter. Earnest Partners LLC now owns 14,852 shares of the technology company’s stock valued at $235,000 after buying an additional 513 shares during the period. State Street Corp increased its stake in Infosys Limited by 2.0% in the first quarter. State Street Corp now owns 6,817,865 shares of the technology company’s stock valued at $107,725,000 after buying an additional 131,685 shares during the period. MAVEN SECURITIES Ltd acquired a new stake in Infosys Limited during the first quarter valued at approximately $4,415,000. Finally, Kernodle & Katon Asset Management Group LLC acquired a new stake in Infosys Limited during the first quarter valued at approximately $100,000. Institutional investors and hedge funds own 20.67% of the company’s stock.
Infosys Limited (NYSE INFY) traded down 2.65% during mid-day trading on Friday, reaching $14.67. 8,744,308 shares of the company were exchanged. The stock’s 50-day moving average is $15.07 and its 200-day moving average is $14.90. Infosys Limited has a 12 month low of $13.42 and a 12 month high of $18.99. The company has a market cap of $33.53 billion, a P/E ratio of 15.67 and a beta of 0.80.
Infosys Limited (NYSE:INFY) last posted its earnings results on Thursday, April 13th. The technology company reported $0.24 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.24. Infosys Limited had a return on equity of 21.90% and a net margin of 20.96%. The firm had revenue of $171.20 billion during the quarter, compared to analyst estimates of $172.14 billion. During the same period in the previous year, the company earned $0.23 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts expect that Infosys Limited will post $0.97 earnings per share for the current year.
The business also recently announced a dividend, which was paid on Friday, June 2nd. Investors of record on Friday, June 2nd were issued a $0.21 dividend. This is a positive change from Infosys Limited’s previous dividend of $0.17. The ex-dividend date was Wednesday, May 31st. Infosys Limited’s payout ratio is 37.23%.
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Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Infosys Limited from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Monday, March 20th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating on shares of Infosys Limited in a research note on Friday, June 9th. William Blair cut shares of Infosys Limited from a “market perform” rating to an “underperform” rating in a research note on Thursday, April 13th. Cowen and Company set a $15.00 price target on shares of Infosys Limited and gave the stock a “hold” rating in a research note on Thursday, April 13th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $15.00 price target on shares of Infosys Limited in a research note on Thursday, March 23rd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $16.47.
About Infosys Limited
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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