Infosys Ltd. $INFY Stock: Perpetual Ltd Reduces Position

Key Points

• Perpetual Ltd. cut its Infosys stake by 88.9% in the third quarter, selling 769,475 shares and retaining 95,814 shares valued at approximately $1.03 million.
• Several other institutional investors increased their positions, while hedge funds and institutional investors collectively own 16.2% of Infosys.
• Analyst sentiment remains cautious: Infosys has an average “Reduce” rating, with 10 Hold ratings and one Sell rating, and an average price target of $11.45.

Perpetual Ltd cut its stake in shares of Infosys Ltd. (NYSE:INFY - Free Report) by 88.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 95,814 shares of the technology company's stock after selling 769,475 shares during the period. Perpetual Ltd's holdings in Infosys were worth $1,031,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in Infosys by 35.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 20,655 shares of the technology company's stock worth $222,000 after acquiring an additional 5,408 shares during the period. Confluence Investment Management LLC raised its stake in shares of Infosys by 5.5% during the third quarter. Confluence Investment Management LLC now owns 18,601 shares of the technology company's stock valued at $200,000 after purchasing an additional 965 shares during the period. QRG Capital Management Inc. raised its stake in shares of Infosys by 4.5% during the second quarter. QRG Capital Management Inc. now owns 30,832 shares of the technology company's stock valued at $323,000 after purchasing an additional 1,335 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of Infosys by 32.8% during the second quarter. Sequoia Financial Advisors LLC now owns 109,291 shares of the technology company's stock valued at $1,146,000 after purchasing an additional 26,984 shares during the period. Finally, Tidal Investments LLC lifted its position in shares of Infosys by 106.3% during the second quarter. Tidal Investments LLC now owns 125,298 shares of the technology company's stock worth $1,314,000 after purchasing an additional 64,563 shares in the last quarter. Hedge funds and other institutional investors own 16.20% of the company's stock.

Infosys Trading Up 5.5%

INFY stock opened at $11.43 on Wednesday. The stock's 50 day simple moving average is $11.46 and its 200 day simple moving average is $11.97. Infosys Ltd. has a 12-month low of $10.12 and a 12-month high of $30.00. The firm has a market cap of $46.27 billion, a P/E ratio of 12.89, a P/E/G ratio of 2.52 and a beta of 0.88.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. CLSA lowered shares of Infosys from an "outperform" rating to a "hold" rating in a report on Wednesday, August 19th. Susquehanna cut their price objective on shares of Infosys from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Friday, July 24th. Weiss Ratings cut shares of Infosys from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. Jefferies Financial Group reissued a "hold" rating on shares of Infosys in a research report on Monday, August 31st. Finally, TD Cowen restated a "hold" rating and set a $9.00 target price (down from $10.00) on shares of Infosys in a research note on Friday, July 24th. Ten equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $11.45.

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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