Cwm LLC Cuts Position in Infosys Limited (NYSE:INFY)

Cwm LLC reduced its stake in shares of Infosys Limited (NYSE:INFY) by 5.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 322,208 shares of the technology company’s stock after selling 17,686 shares during the period. Cwm LLC’s holdings in Infosys were worth $7,176,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board grew its position in Infosys by 37.3% during the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock worth $401,826,000 after buying an additional 5,862,144 shares during the period. FIL Ltd grew its holdings in shares of Infosys by 5.9% in the 4th quarter. FIL Ltd now owns 18,459,935 shares of the technology company’s stock worth $339,294,000 after acquiring an additional 1,031,371 shares during the period. Sustainable Growth Advisers LP grew its holdings in shares of Infosys by 4.4% in the 1st quarter. Sustainable Growth Advisers LP now owns 16,591,434 shares of the technology company’s stock worth $297,484,000 after acquiring an additional 699,641 shares during the period. Millennium Management LLC increased its stake in Infosys by 67.9% in the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock valued at $141,532,000 after purchasing an additional 3,074,432 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Infosys by 10.0% during the second quarter. Bank of New York Mellon Corp now owns 6,248,026 shares of the technology company’s stock worth $116,338,000 after purchasing an additional 570,435 shares in the last quarter. 10.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INFY has been the subject of a number of research analyst reports. StockNews.com upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Finally, Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.68.

Infosys Stock Performance

Shares of NYSE INFY opened at $22.93 on Friday. The firm’s 50 day moving average price is $22.49 and its 200 day moving average price is $19.79. The firm has a market cap of $94.97 billion, a P/E ratio of 29.78, a price-to-earnings-growth ratio of 3.68 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 announced its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 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 business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the previous year, the business earned $0.17 earnings per share. As a group, equities analysts predict that Infosys Limited will post 0.75 EPS for the current year.

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.