Zurcher Kantonalbank Zurich Cantonalbank Has $2.82 Million Stock Position in Infosys Limited (NYSE:INFY)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Infosys Limited (NYSE:INFY) by 0.8% during the second quarter, HoldingsChannel.com reports. The firm owned 151,581 shares of the technology company’s stock after selling 1,256 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Infosys were worth $2,822,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Ridgewood Investments LLC acquired a new stake in Infosys during the 2nd quarter worth $162,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in Infosys by 0.8% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 211,179 shares of the technology company’s stock worth $3,934,000 after buying an additional 1,777 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in Infosys by 126.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after buying an additional 1,693 shares during the period. Whittier Trust Co. raised its stake in shares of Infosys by 10.2% in the 2nd quarter. Whittier Trust Co. now owns 20,695 shares of the technology company’s stock valued at $385,000 after purchasing an additional 1,918 shares during the period. Finally, Financial Advocates Investment Management raised its stake in shares of Infosys by 77.7% in the 2nd quarter. Financial Advocates Investment Management now owns 21,312 shares of the technology company’s stock valued at $397,000 after purchasing an additional 9,322 shares during the period. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Price Performance

Shares of NYSE INFY opened at $23.28 on Friday. The stock has a market capitalization of $96.38 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 3.53 and a beta of 0.98. The business has a 50-day moving average of $21.08 and a 200-day moving average of $19.11. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.48.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $4.71 billion during 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 quarter last year, the company earned $0.17 EPS. On average, sell-side analysts expect that Infosys Limited will post 0.75 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on INFY. StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.27.

Infosys Company 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.