Royal Bank of Canada Raises Holdings in Infosys Ltd. $INFY

Key Points

• Royal Bank of Canada increased its Infosys stake by 31.9% in the first quarter, adding 279,954 shares to hold 1.16 million shares valued at approximately $15.6 million.
• Analyst sentiment remains cautious: eight analysts rate Infosys “Hold” and two rate it “Sell,” resulting in a consensus “Reduce” rating and an average price target of $11.63.
• Infosys shares opened at $12.53, while the company’s latest quarterly results slightly missed expectations, reporting $0.20 in EPS versus $0.21 expected and revenue of $4.99 billion versus $5.08 billion forecast.

Royal Bank of Canada lifted its position in shares of Infosys Ltd. (NYSE:INFY - Free Report) by 31.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,156,539 shares of the technology company's stock after buying an additional 279,954 shares during the quarter. Royal Bank of Canada's holdings in Infosys were worth $15,625,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in Infosys in the first quarter worth about $97,000. State of Wyoming purchased a new position in Infosys during the 1st quarter valued at about $134,000. Aureus Asset Management LLC purchased a new position in Infosys during the 1st quarter valued at about $142,000. Able Wealth Management LLC bought a new stake in shares of Infosys in the 1st quarter valued at about $163,000. Finally, Dickmeyer Boyce Financial Management Inc. purchased a new stake in shares of Infosys in the 1st quarter worth approximately $173,000. Hedge funds and other institutional investors own 16.20% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on INFY shares. HSBC set a $11.47 price objective on shares of Infosys and gave the company a "hold" rating in a research note on Friday, July 24th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $10.90 target price (down from $12.70) on shares of Infosys in a research report on Friday, July 24th. Weiss Ratings lowered Infosys from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. Susquehanna dropped their price objective on Infosys from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Friday, July 24th. Finally, TD Cowen reiterated a "hold" rating and issued a $9.00 target price (down from $10.00) on shares of Infosys in a report on Friday, July 24th. Eight research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $11.63.

Infosys Trading Up 1.3%

Shares of INFY opened at $12.53 on Friday. The firm has a market cap of $50.69 billion, a PE ratio of 15.46, a P/E/G ratio of 2.88 and a beta of 0.88. Infosys Ltd. has a 12 month low of $10.30 and a 12 month high of $30.00. The stock has a fifty day moving average price of $11.56 and a 200-day moving average price of $13.29.

Infosys (NYSE:INFY - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). The firm had revenue of $4.99 billion for 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, research analysts forecast that Infosys Ltd. will post 0.81 EPS for the current year.

About Infosys

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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