Infosys Ltd. $INFY Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management reduced its Infosys stake by 5.6% in the third quarter, selling 2.75 million shares and retaining 46.29 million shares valued at approximately $498.1 million.
• Other institutional investors increased their positions, but overall institutional and hedge-fund ownership stands at 16.2% of Infosys shares.
• Analyst sentiment is cautious: Infosys has an average “Reduce” rating and a consensus price target of $11.45, while its latest quarterly earnings and revenue came in below estimates.

Robeco Institutional Asset Management B.V. trimmed its holdings in shares of Infosys Ltd. (NYSE:INFY - Free Report) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,294,169 shares of the technology company's stock after selling 2,746,532 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 1.14% of Infosys worth $498,125,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of INFY. Frank Rimerman Advisors LLC lifted its position in Infosys by 2.8% during the third quarter. Frank Rimerman Advisors LLC now owns 155,698 shares of the technology company's stock valued at $1,675,000 after purchasing an additional 4,174 shares during the period. Vontobel Holding Ltd. boosted its holdings in Infosys by 61.5% in the third quarter. Vontobel Holding Ltd. now owns 43,737 shares of the technology company's stock valued at $471,000 after purchasing an additional 16,657 shares during the last quarter. Banque Pictet & Cie SA boosted its holdings in Infosys by 21.6% in the third quarter. Banque Pictet & Cie SA now owns 208,804 shares of the technology company's stock valued at $2,247,000 after purchasing an additional 37,059 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Infosys by 35.5% in the third quarter. Farther Finance Advisors LLC now owns 20,655 shares of the technology company's stock valued at $222,000 after purchasing an additional 5,408 shares during the last quarter. Finally, Confluence Investment Management LLC grew its position in Infosys by 5.5% during the 3rd quarter. Confluence Investment Management LLC now owns 18,601 shares of the technology company's stock worth $200,000 after purchasing an additional 965 shares during the period. 16.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on INFY shares. Susquehanna reduced their price objective on Infosys from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Friday, July 24th. TD Cowen reissued 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. BMO Capital Markets restated a "market perform" rating and issued a $12.00 target price (down from $13.00) on shares of Infosys in a research note on Friday, July 24th. CLSA downgraded Infosys from an "outperform" rating to a "hold" rating in a research note on Wednesday, August 19th. Finally, Weiss Ratings lowered Infosys from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, July 28th. Ten research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $11.45.

Infosys Price Performance

NYSE:INFY opened at $12.64 on Wednesday. The firm has a market cap of $51.21 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 2.84 and a beta of 0.88. The company has a 50 day moving average price of $11.42 and a 200-day moving average price of $11.94. Infosys Ltd. has a 1-year low of $10.12 and a 1-year high of $30.00.

Infosys (NYSE:INFY - Get Free Report) last posted its earnings results 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). Infosys had a net margin of 16.38% and a return on equity of 33.91%. The firm had revenue of $4.99 billion during the quarter, compared to analyst estimates of $5.08 billion. On average, sell-side analysts anticipate that Infosys Ltd. will post 0.81 earnings per share for the current fiscal year.

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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