ABN Amro Investment Solutions Acquires 483,700 Shares of Infosys Ltd. $INFY

Key Points

• ABN Amro Investment Solutions nearly doubled its Infosys stake in the first quarter, buying 483,700 additional shares and bringing its total holdings to 997,028 shares worth about $13.47 million.
• Infosys stock was down 1.7% in Wednesday trading, opening at $11.12, near its 12-month low of $10.34 and well below its 12-month high of $30.00.
• Wall Street sentiment remains cautious, with analysts giving Infosys an average "Hold" rating and a consensus price target of $12.50 after several firms cut their targets.

ABN Amro Investment Solutions grew its position in shares of Infosys Ltd. (NYSE:INFY - Free Report) by 94.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 997,028 shares of the technology company's stock after acquiring an additional 483,700 shares during the quarter. ABN Amro Investment Solutions' holdings in Infosys were worth $13,470,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in shares of Infosys in the 1st quarter worth about $97,000. Able Wealth Management LLC bought a new position in Infosys in the 1st quarter worth approximately $163,000. Laidlaw Wealth Management LLC boosted its stake in Infosys by 30.8% in the 1st quarter. Laidlaw Wealth Management LLC now owns 14,650 shares of the technology company's stock worth $198,000 after purchasing an additional 3,450 shares during the period. Keybank National Association OH purchased a new position in Infosys during the 1st quarter valued at about $205,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Infosys in the first quarter worth $239,000. Institutional investors own 16.20% of the company's stock.

Infosys Trading Down 1.7%

Shares of NYSE INFY opened at $11.12 on Wednesday. The firm has a fifty day simple moving average of $11.68 and a two-hundred day simple moving average of $13.83. Infosys Ltd. has a 12 month low of $10.34 and a 12 month high of $30.00. The firm has a market capitalization of $45.00 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 1.48 and a beta of 0.90.

Infosys (NYSE:INFY - Get Free Report) last announced its earnings results on Wednesday, April 1st. The technology company reported $0.23 earnings per share for the quarter. Infosys had a net margin of 16.44% and a return on equity of 32.64%. The firm had revenue of $5.04 billion for the quarter. On average, sell-side analysts predict that Infosys Ltd. will post 0.82 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on INFY shares. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Infosys in a research note on Monday, June 8th. BMO Capital Markets dropped their target price on Infosys from $20.00 to $15.00 and set a "market perform" rating for the company in a report on Friday, April 24th. TD Cowen cut their price target on shares of Infosys from $13.00 to $10.00 and set a "hold" rating on the stock in a report on Thursday, July 9th. Wells Fargo & Company set a $11.00 price objective on shares of Infosys and gave the company an "equal weight" rating in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Infosys from $16.80 to $12.70 and set an "overweight" rating for the company in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $12.50.

Infosys 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.

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