Infosys Ltd. $INFY Stake Reduced by XY Capital Ltd

Key Points

• XY Capital Ltd. cut its Infosys stake by 79.5% in the second quarter, selling 254,167 shares and retaining 65,498 shares valued at approximately $687,000.
• Other institutional investors, including Lazard Asset Management and Trinity Street Asset Management, increased their Infosys holdings; institutions collectively own 16.2% of the company.
• Infosys reported quarterly earnings and revenue below analyst estimates, while analysts largely maintained “Hold” ratings. MarketBeat’s consensus rating is “Reduce,” with an average price target of $11.59.

XY Capital Ltd cut its stake in Infosys Ltd. (NYSE:INFY - Free Report) by 79.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,498 shares of the technology company's stock after selling 254,167 shares during the period. Infosys accounts for approximately 0.7% of XY Capital Ltd's investment portfolio, making the stock its 21st largest holding. XY Capital Ltd's holdings in Infosys were worth $687,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of INFY. Lazard Asset Management LLC lifted its position in 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 last quarter. Trinity Street Asset Management LLP increased its stake in shares of 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 purchasing an additional 4,674,742 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Infosys by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 7,789,344 shares of the technology company's stock valued at $105,206,000 after purchasing an additional 52,393 shares during the period. Bank of America Corp DE raised its holdings in shares of Infosys by 7.4% during 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 buying an additional 469,843 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Infosys by 8.7% during the first 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. Institutional investors and hedge funds own 16.20% of the company's stock.

Infosys Price Performance

NYSE INFY opened at $11.66 on Friday. Infosys Ltd. has a 12 month low of $10.30 and a 12 month high of $30.00. The company has a market capitalization of $47.22 billion, a P/E ratio of 14.40, a PEG ratio of 2.73 and a beta of 0.87. The company's 50 day simple moving average is $11.70 and its 200 day simple moving average is $12.56.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on INFY. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $10.90 price objective (down from $12.70) on shares of Infosys in a report on Friday, July 24th. Wells Fargo & Company set a $11.00 target price on Infosys and gave the company an "equal weight" rating in a research note on Friday, June 26th. Stifel Nicolaus set a $13.00 price target on Infosys and gave the stock a "hold" rating in a research report on Thursday, July 16th. HSBC set a $11.47 price target on Infosys and gave the stock a "hold" rating in a research note on Friday, July 24th. Finally, Jefferies Financial Group restated a "hold" rating on shares of Infosys in a research note on Monday, August 31st. Nine analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Infosys currently has a consensus rating of "Reduce" and an average 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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