Infosys Ltd. $INFY Shares Purchased by SummitTX Capital L.P.

SummitTX Capital L.P. increased its holdings in shares of Infosys Ltd. (NYSE:INFY) by 282.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,476 shares of the technology company’s stock after buying an additional 68,276 shares during the period. SummitTX Capital L.P.’s holdings in Infosys were worth $1,249,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in INFY. V Square Quantitative Management LLC acquired a new position in shares of Infosys in the first quarter worth $97,000. State of Wyoming acquired a new stake in shares of Infosys in the first quarter valued at $134,000. Aureus Asset Management LLC purchased a new position in Infosys in the first quarter valued at $142,000. Able Wealth Management LLC purchased a new position in Infosys in the first quarter valued at $163,000. Finally, Dickmeyer Boyce Financial Management Inc. acquired a new position in Infosys during the 1st quarter worth $173,000. 16.20% of the stock is currently owned by institutional investors and hedge funds.

Infosys Stock Performance

INFY opened at $12.62 on Thursday. Infosys Ltd. has a one year low of $10.30 and a one year high of $30.00. The company has a market cap of $51.09 billion, a P/E ratio of 15.59, a PEG ratio of 2.88 and a beta of 0.90. The business’s 50-day simple moving average is $11.59 and its 200-day simple moving average is $13.55.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, July 23rd. The technology company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). The business had revenue of $4.99 billion for the quarter, compared to analyst estimates of $5.08 billion. Infosys had a return on equity of 33.91% and a net margin of 16.38%. As a group, analysts predict that Infosys Ltd. will post 0.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. TD Cowen restated a “hold” rating and set a $9.00 price target (down from $10.00) on shares of Infosys in a report on Friday, July 24th. Wells Fargo & Company set a $11.00 price objective on Infosys and gave the company an “equal weight” rating in a research note on Friday, June 26th. BMO Capital Markets reissued a “market perform” rating and set a $12.00 price objective (down from $13.00) on shares of Infosys in a research report on Friday, July 24th. Weiss Ratings cut shares of Infosys from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday. Finally, Susquehanna decreased their price target on shares of Infosys from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, July 24th. Eight equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Infosys has an average rating of “Reduce” and a consensus price target of $11.63.

Infosys Company 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. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.