RWC Asset Advisors US LLC Makes New Investment in Infosys Ltd. $INFY

Key Points

• RWC Asset Advisors US LLC bought 2.07 million Infosys shares worth approximately $21.8 million in the second quarter, making the stock its ninth-largest holding and about 4.8% of its portfolio.
• Analyst sentiment remains cautious: nine analysts rate Infosys “Hold” and one rates it “Sell,” producing a consensus “Reduce” rating and an average price target of $11.59.
• Infosys reported quarterly revenue of $4.99 billion and earnings of $0.20 per share, both slightly below analyst expectations; shares opened at $11.66, while institutional investors own 16.2% of the company.

RWC Asset Advisors US LLC purchased a new stake in Infosys Ltd. (NYSE:INFY - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,074,133 shares of the technology company's stock, valued at approximately $21,758,000. Infosys accounts for about 4.8% of RWC Asset Advisors US LLC's investment portfolio, making the stock its 9th largest holding. RWC Asset Advisors US LLC owned approximately 0.05% of Infosys at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of INFY. V Square Quantitative Management LLC bought a new position in Infosys in the 1st quarter worth approximately $97,000. TD Waterhouse Canada Inc. lifted its position in shares of Infosys by 14.2% during the second quarter. TD Waterhouse Canada Inc. now owns 9,090 shares of the technology company's stock worth $97,000 after acquiring an additional 1,131 shares in the last quarter. State of Wyoming purchased a new position in shares of Infosys in the first quarter valued at $134,000. Aureus Asset Management LLC bought a new stake in shares of Infosys during the 1st quarter valued at $142,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in Infosys during the 2nd quarter worth about $115,000. 16.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INFY. TD Cowen reaffirmed a "hold" rating and set a $9.00 target price (down from $10.00) on shares of Infosys in a report on Friday, July 24th. Wells Fargo & Company set a $11.00 target price on shares of Infosys and gave the stock an "equal weight" rating in a report on Friday, June 26th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $10.90 price target (down from $12.70) on shares of Infosys in a report on Friday, July 24th. CLSA lowered shares of Infosys from an "outperform" rating to a "hold" rating in a research report on Wednesday, August 19th. Finally, HSBC set a $11.47 price target on shares of Infosys and gave the company a "hold" rating in a research report on Friday, July 24th. Nine analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $11.59.

Infosys Price Performance

Shares of Infosys stock opened at $11.66 on Tuesday. Infosys Ltd. has a 1 year low of $10.30 and a 1 year high of $30.00. The firm has a market cap of $47.22 billion, a PE ratio of 14.40, a PEG ratio of 2.73 and a beta of 0.87. The company has a 50 day simple moving average of $11.72 and a two-hundred day simple moving average of $12.52.

Infosys (NYSE:INFY - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.20 earnings per share 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 company had revenue of $4.99 billion for the quarter, compared to analysts' expectations of $5.08 billion. As a group, research analysts anticipate that Infosys Ltd. will post 0.81 earnings per share 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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