C WorldWide Group Holding A S Sells 138,568 Shares of Infosys Ltd. $INFY

Key Points

• C WorldWide Group Holding A S cut its Infosys stake by 27.4% in the second quarter, selling 138,568 shares and retaining 366,823 shares valued at approximately $3.85 million.
• Infosys reported quarterly EPS of $0.20, below the $0.21 analyst consensus, while revenue of $4.99 billion also missed estimates of $5.08 billion.
• Analyst sentiment remains cautious: nine analysts rate the stock Hold and one rates it Sell, resulting in a “Reduce” consensus rating and an average price target of $11.59.

C WorldWide Group Holding A S lessened its stake in Infosys Ltd. (NYSE:INFY - Free Report) by 27.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 366,823 shares of the technology company's stock after selling 138,568 shares during the period. C WorldWide Group Holding A S's holdings in Infosys were worth $3,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Trinity Street Asset Management LLP lifted its holdings in Infosys by 45.5% in the first quarter. Trinity Street Asset Management LLP now owns 14,938,546 shares of the technology company's stock valued at $201,820,000 after acquiring an additional 4,674,742 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Infosys by 17.0% in the 1st quarter. Lazard Asset Management LLC now owns 26,776,494 shares of the technology company's stock valued at $361,750,000 after purchasing an additional 3,893,801 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Infosys during the second quarter worth $23,235,000. RWC Asset Advisors US LLC purchased a new position in Infosys in the second quarter valued at $21,758,000. Finally, Hudson Edge Investment Partners Inc. increased its stake in shares of Infosys by 56.5% in the 1st quarter. Hudson Edge Investment Partners Inc. now owns 4,452,990 shares of the technology company's stock valued at $60,160,000 after purchasing an additional 1,607,300 shares in the last quarter. Hedge funds and other institutional investors own 16.20% of the company's stock.

Infosys Stock Performance

Shares of NYSE:INFY opened at $11.17 on Wednesday. Infosys Ltd. has a one year low of $10.30 and a one year high of $30.00. The stock has a market capitalization of $45.23 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 2.73 and a beta of 0.87. The company has a 50-day simple moving average of $11.73 and a 200-day simple moving average of $12.50.

Infosys (NYSE:INFY - Get Free Report) last released its 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 analyst estimates of $5.08 billion. As a group, research analysts forecast that Infosys Ltd. will post 0.81 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on INFY. CLSA downgraded shares of Infosys from an "outperform" rating to a "hold" rating in a report on Wednesday, August 19th. Stifel Nicolaus set a $13.00 price objective on Infosys and gave the company a "hold" rating in a research note on Thursday, July 16th. BMO Capital Markets reiterated a "market perform" rating and issued a $12.00 price objective (down from $13.00) on shares of Infosys in a research note on Friday, July 24th. TD Cowen reiterated a "hold" rating and issued a $9.00 price objective (down from $10.00) on shares of Infosys in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. restated 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. Nine investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $11.59.

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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