Summit Global Investments Has $1.79 Million Holdings in Infosys Limited (NYSE:INFY)

Summit Global Investments reduced its position in Infosys Limited (NYSE:INFY) by 29.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,129 shares of the technology company’s stock after selling 41,797 shares during the period. Summit Global Investments’ holdings in Infosys were worth $1,791,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in Infosys by 2,315.6% in the 1st quarter. GAMMA Investing LLC now owns 108,606 shares of the technology company’s stock worth $19,820,000 after purchasing an additional 104,110 shares during the last quarter. Boston Common Asset Management LLC raised its position in shares of Infosys by 14.6% in the first quarter. Boston Common Asset Management LLC now owns 498,967 shares of the technology company’s stock valued at $9,106,000 after purchasing an additional 63,618 shares during the period. Fairtree Asset Management Pty Ltd acquired a new stake in shares of Infosys in the fourth quarter worth $130,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Infosys by 6.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 93,792 shares of the technology company’s stock worth $2,056,000 after buying an additional 5,998 shares during the period. Finally, Employees Retirement System of Texas boosted its holdings in shares of Infosys by 539.1% during the 4th quarter. Employees Retirement System of Texas now owns 78,699 shares of the technology company’s stock worth $1,725,000 after buying an additional 66,385 shares during the period. Institutional investors own 16.20% of the company’s stock.

Infosys Stock Up 0.6%

Shares of NYSE:INFY opened at $18.47 on Friday. The business has a 50 day moving average price of $17.67 and a 200 day moving average price of $20.25. Infosys Limited has a twelve month low of $15.82 and a twelve month high of $23.63. The company has a market cap of $76.48 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 3.50 and a beta of 0.98.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Thursday, April 17th. The technology company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Infosys had a return on equity of 31.60% and a net margin of 17.28%. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $420.69 billion. During the same quarter last year, the company earned $0.23 EPS. Analysts anticipate that Infosys Limited will post 0.74 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on INFY shares. Wall Street Zen raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Friday, May 16th. The Goldman Sachs Group downgraded shares of Infosys from a “buy” rating to a “neutral” rating and set a $17.90 price objective for the company. in a report on Monday, April 21st. CLSA upgraded Infosys from a “hold” rating to an “outperform” rating in a research note on Friday, March 7th. Stifel Nicolaus decreased their target price on Infosys from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Monday, April 21st. Finally, Investec upgraded Infosys from a “sell” rating to a “buy” rating in a research note on Friday, April 18th. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.48.

Infosys Profile

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other.