662,904 Infosys Ltd. $INFY Shares Sold by Sustainable Growth Advisers LP

Sustainable Growth Advisers LP decreased its position in Infosys Ltd. (NYSE:INFY) by 75.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 218,676 shares of the technology company’s stock after selling 662,904 shares during the period. Sustainable Growth Advisers LP’s holdings in Infosys were worth $2,353,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in Infosys during the first quarter valued at $97,000. TD Waterhouse Canada Inc. raised its position in shares of Infosys by 14.2% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 9,090 shares of the technology company’s stock worth $97,000 after acquiring an additional 1,131 shares in the last quarter. State of Wyoming acquired a new position in shares of Infosys in the 1st quarter valued at about $134,000. Aureus Asset Management LLC acquired a new position in shares of Infosys in the 1st quarter valued at about $142,000. Finally, Concurrent Investment Advisors LLC acquired a new position in shares of Infosys in the 2nd quarter valued at about $115,000. Institutional investors and hedge funds own 16.20% of the company’s stock.

Infosys Stock Up 5.8%

Shares of NYSE INFY opened at $12.14 on Friday. The firm has a market cap of $49.18 billion, a PE ratio of 14.99, a P/E/G ratio of 2.68 and a beta of 0.88. Infosys Ltd. has a 12-month low of $10.12 and a 12-month high of $30.00. The company’s fifty day simple moving average is $11.44 and its 200 day simple moving average is $11.96.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Infosys had a return on equity of 33.91% and a net margin of 16.38%. The company had revenue of $4.99 billion during the quarter, compared to analyst estimates of $5.08 billion. On average, equities analysts predict that Infosys Ltd. will post 0.81 earnings per share for the current year.

Analysts Set New Price Targets

INFY has been the topic of several research analyst reports. Susquehanna cut their target price on Infosys from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, July 24th. BMO Capital Markets reiterated a “market perform” rating and issued a $12.00 target price (down from $13.00) on shares of Infosys in a report on Friday, July 24th. CLSA downgraded Infosys from an “outperform” rating to a “hold” rating in a report on Wednesday, August 19th. TD Cowen reissued a “hold” rating and issued a $9.00 price target (down from $10.00) on shares of Infosys in a research note on Friday, July 24th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $10.40 price target on shares of Infosys in a research note on Thursday, October 1st. Ten analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Infosys currently has an average rating of “Reduce” and an average price target of $11.45.

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.