HBK Sorce Advisory LLC Sells 1,636 Shares of Infosys Limited (NYSE:INFY)

HBK Sorce Advisory LLC cut its holdings in Infosys Limited (NYSE:INFY) by 12.3% during the second quarter, HoldingsChannel reports. The firm owned 11,667 shares of the technology company’s stock after selling 1,636 shares during the period. HBK Sorce Advisory LLC’s holdings in Infosys were worth $217,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Federated Hermes Inc. grew its holdings in Infosys by 24.7% in the 2nd quarter. Federated Hermes Inc. now owns 467,207 shares of the technology company’s stock valued at $8,699,000 after buying an additional 92,458 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Infosys by 6.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 1,119,802 shares of the technology company’s stock valued at $20,823,000 after acquiring an additional 64,000 shares during the period. D Orazio & Associates Inc. grew its stake in shares of Infosys by 4.1% in the second quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock worth $274,000 after acquiring an additional 584 shares during the last quarter. Beverly Hills Private Wealth LLC bought a new position in Infosys during the second quarter worth $213,000. Finally, Johnson Investment Counsel Inc. raised its stake in Infosys by 17.7% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 51,021 shares of the technology company’s stock valued at $950,000 after purchasing an additional 7,661 shares during the last quarter. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Trading Down 0.2 %

Shares of INFY opened at $23.20 on Monday. The stock has a 50 day simple moving average of $21.91 and a 200-day simple moving average of $19.29. The stock has a market cap of $96.09 billion, a PE ratio of 30.53, a PEG ratio of 3.63 and a beta of 0.99. Infosys Limited has a 1 year low of $16.04 and a 1 year high of $23.48.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. Infosys had a return on equity of 32.01% and a net margin of 17.18%. The company had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same period last year, the business earned $0.17 earnings per share. On average, sell-side analysts forecast that Infosys Limited will post 0.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

About Infosys

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.