Infosys Ltd. $INFY Shares Sold by C WorldWide Group Holding A S

C WorldWide Group Holding A S lowered its holdings in Infosys Ltd. (NYSE:INFY) by 27.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 366,823 shares of the technology company’s stock after selling 138,568 shares during the quarter. C WorldWide Group Holding A S’s holdings in Infosys were worth $3,848,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in Infosys by 7.4% during the 1st quarter. Bank of America Corp DE now owns 6,790,666 shares of the technology company’s stock valued at $91,742,000 after acquiring an additional 469,843 shares in the last quarter. Lazard Asset Management LLC increased its position in Infosys by 17.0% during the 1st quarter. Lazard Asset Management LLC now owns 26,776,494 shares of the technology company’s stock worth $361,750,000 after purchasing an additional 3,893,801 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Infosys by 8.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,490,358 shares of the technology company’s stock worth $87,685,000 after acquiring an additional 521,169 shares in the last quarter. Weiss Asset Management LP purchased a new position in Infosys in the first quarter valued at about $10,708,000. Finally, Royal Bank of Canada raised its holdings in shares of Infosys by 31.9% during the 1st quarter. Royal Bank of Canada now owns 1,156,539 shares of the technology company’s stock valued at $15,625,000 after buying an additional 279,954 shares during the period. 16.20% of the stock is currently owned by hedge funds and other institutional investors.

Infosys Price Performance

Infosys stock opened at $11.17 on Wednesday. The firm has a fifty day moving average price of $11.73 and a two-hundred day moving average price of $12.50. Infosys Ltd. has a fifty-two week low of $10.30 and a fifty-two week high of $30.00. The firm has a market cap of $45.23 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 2.73 and a beta of 0.87.

Infosys (NYSE:INFY) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $5.08 billion. Infosys had a net margin of 16.38% and a return on equity of 33.91%. As a group, sell-side analysts expect that Infosys Ltd. will post 0.81 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on INFY. CLSA lowered shares of Infosys from an “outperform” rating to a “hold” rating in a research note on Wednesday, August 19th. Susquehanna decreased their price objective on shares of Infosys from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Friday, July 24th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $10.90 target price (down from $12.70) on shares of Infosys in a research note on Friday, July 24th. HSBC set a $11.47 target price on shares of Infosys and gave the stock a “hold” rating in a report on Friday, July 24th. Finally, TD Cowen reissued a “hold” rating and issued a $9.00 target price (down from $10.00) on shares of Infosys in a research report on Friday, July 24th. Nine research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $11.59.

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.