Carolina Wealth Advisors LLC Sells 10,719 Shares of Infosys Limited (NYSE:INFY)

Carolina Wealth Advisors LLC decreased its holdings in Infosys Limited (NYSE:INFY) by 4.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 226,423 shares of the technology company’s stock after selling 10,719 shares during the period. Infosys makes up 2.6% of Carolina Wealth Advisors LLC’s portfolio, making the stock its 17th biggest position. Carolina Wealth Advisors LLC’s holdings in Infosys were worth $5,042,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INFY. GAMMA Investing LLC grew its position in Infosys by 33.0% in the first quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock valued at $43,000 after acquiring an additional 593 shares during the period. Hilltop National Bank grew its stake in Infosys by 50.8% during the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after buying an additional 1,004 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Infosys by 126.7% during the second 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 in the last quarter. Ridgewood Investments LLC bought a new position in shares of Infosys in the second quarter valued at approximately $162,000. Finally, Foster Group Inc. bought a new stake in Infosys during the 3rd quarter worth approximately $214,000. 10.89% of the stock is owned by institutional investors.

Infosys Price Performance

Shares of Infosys stock traded down $0.36 during trading on Monday, hitting $22.15. 5,528,217 shares of the company were exchanged, compared to its average volume of 9,341,167. The firm has a market capitalization of $91.70 billion, a P/E ratio of 28.87, a price-to-earnings-growth ratio of 3.68 and a beta of 0.99. The firm’s fifty day moving average price is $22.68 and its 200 day moving average price is $20.00. Infosys Limited has a 1-year low of $16.04 and a 1-year high of $23.48.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a net margin of 17.18% and a return on equity of 32.01%. During the same quarter in the prior year, the firm earned $0.18 earnings per share. As a group, equities research analysts anticipate that Infosys Limited will post 0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

INFY has been the subject of several research analyst reports. StockNews.com upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Investec cut shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. BMO Capital Markets upped their target price on shares of Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Infosys currently has a consensus rating of “Hold” and a consensus price target of $20.85.

Infosys 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.