Engineers Gate Manager LP Increases Stake in Infosys Ltd. $INFY

Key Points

• Engineers Gate Manager LP nearly doubled its Infosys stake in the second quarter, buying 189,631 additional shares to hold 381,772 shares valued at approximately $4.0 million.
• Infosys reported quarterly EPS of $0.20 and revenue of $4.99 billion, both below analyst expectations of $0.21 EPS and $5.08 billion revenue.
• Analyst sentiment remains cautious: nine analysts rate the stock Hold and one rates it Sell, producing a consensus “Reduce” rating and an average price target of $11.59.

Engineers Gate Manager LP grew its holdings in Infosys Ltd. (NYSE:INFY - Free Report) by 98.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 381,772 shares of the technology company's stock after purchasing an additional 189,631 shares during the quarter. Engineers Gate Manager LP's holdings in Infosys were worth $4,005,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in INFY. V Square Quantitative Management LLC purchased a new stake in shares of Infosys during the first quarter valued at about $97,000. TD Waterhouse Canada Inc. lifted its stake in Infosys by 14.2% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 9,090 shares of the technology company's stock valued at $97,000 after acquiring an additional 1,131 shares during the period. Concurrent Investment Advisors LLC acquired a new position in Infosys during the second quarter valued at $115,000. Laidlaw Wealth Management LLC acquired a new stake in Infosys during the second quarter worth about $117,000. Finally, Angeles Wealth Management LLC acquired a new position in shares of Infosys in the 2nd quarter valued at $125,000. 16.20% of the stock is currently owned by hedge funds and other institutional investors.

Infosys Price Performance

Shares of NYSE INFY opened at $11.09 on Friday. Infosys Ltd. has a 1 year low of $10.30 and a 1 year high of $30.00. The company has a market capitalization of $44.89 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 2.58 and a beta of 0.87. The business has a 50-day moving average of $11.73 and a two-hundred day moving average of $12.43.

Infosys (NYSE:INFY - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). The company had revenue of $4.99 billion during the quarter, compared to analyst estimates of $5.08 billion. Infosys had a net margin of 16.38% and a return on equity of 33.91%. As a group, equities research analysts expect that Infosys Ltd. will post 0.81 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on the company. CLSA lowered 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 target price (down from $10.00) on shares of Infosys in a research note on Friday, July 24th. Susquehanna cut their target price on Infosys from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Friday, July 24th. BMO Capital Markets restated 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. Finally, Wells Fargo & Company set a $11.00 price objective on Infosys and gave the stock an "equal weight" rating in a research report on Friday, June 26th. Nine research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price 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.

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