887,272 Shares in Infosys Ltd. $INFY Purchased by Nykredit A S

Key Points

• Nykredit A S purchased 887,272 Infosys shares during the second quarter, representing a new stake valued at approximately $9.3 million. Institutional investors and hedge funds collectively own 16.2% of the company.
• Infosys reported quarterly revenue of $4.99 billion and earnings of $0.20 per share, both slightly below analyst expectations. Shares opened at $10.81, near the company’s 52-week low of $10.30.
• Analyst sentiment remains cautious: several firms reduced their price targets, and coverage stands at nine Hold ratings and one Sell rating. MarketBeat’s consensus rating is “Reduce,” with an average target price of $11.59.

Nykredit A S purchased a new stake in Infosys Ltd. (NYSE:INFY - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 887,272 shares of the technology company's stock, valued at approximately $9,307,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings in shares of Infosys by 7.4% in the first quarter. Bank of America Corp DE now owns 6,790,666 shares of the technology company's stock valued at $91,742,000 after purchasing an additional 469,843 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Infosys by 17.0% during the first 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 during the period. Arrowstreet Capital Limited Partnership grew its position in Infosys by 8.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,490,358 shares of the technology company's stock valued at $87,685,000 after buying an additional 521,169 shares during the last quarter. Weiss Asset Management LP acquired a new position in Infosys in the 1st quarter valued at $10,708,000. Finally, Royal Bank of Canada increased its stake in Infosys by 31.9% in 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 owned by institutional investors and hedge funds.

Infosys Stock Performance

Shares of NYSE INFY opened at $10.81 on Monday. Infosys Ltd. has a one year low of $10.30 and a one year high of $30.00. The firm has a market capitalization of $43.80 billion, a P/E ratio of 13.35, a PEG ratio of 2.52 and a beta of 0.87. The company's fifty day moving average is $11.74 and its two-hundred day moving average is $12.31.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. JPMorgan Chase & Co. restated a "neutral" rating and issued a $10.90 target price (down from $12.70) on shares of Infosys in a research note on Friday, July 24th. Susquehanna dropped their price target on shares of Infosys from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Friday, July 24th. BMO Capital Markets reissued a "market perform" rating and set a $12.00 price target (down from $13.00) on shares of Infosys in a report on Friday, July 24th. TD Cowen restated a "hold" rating and issued a $9.00 price objective (down from $10.00) on shares of Infosys in a research report on Friday, July 24th. Finally, CLSA lowered Infosys from an "outperform" rating to a "hold" rating in a report on Wednesday, August 19th. Nine research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $11.59.

About Infosys

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.

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