Trinity Street Asset Management LLP Sells 1,859,400 Shares of Infosys Ltd. $INFY

Key Points

• Trinity Street Asset Management cut its Infosys stake by 12.4%, selling 1,859,400 shares in the second quarter. It still held 13.08 million shares worth approximately $137.2 million, representing 7.1% of its portfolio.
• Infosys reported quarterly revenue of $4.99 billion and EPS of $0.20, both below analyst expectations of $5.08 billion and $0.21, respectively. The stock opened at $12.28, with a 52-week range of $10.30 to $30.00.
• Analyst sentiment remains cautious: eight analysts rate the stock Hold and two rate it Sell, producing a consensus “Reduce” rating and an average price target of $11.63.

Trinity Street Asset Management LLP decreased its position in shares of Infosys Ltd. (NYSE:INFY - Free Report) by 12.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,079,146 shares of the technology company's stock after selling 1,859,400 shares during the period. Infosys makes up 7.1% of Trinity Street Asset Management LLP's holdings, making the stock its 6th biggest position. Trinity Street Asset Management LLP owned 0.32% of Infosys worth $137,200,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Lazard Asset Management LLC grew its stake in shares of Infosys by 17.0% in the first quarter. Lazard Asset Management LLC now owns 26,776,494 shares of the technology company's stock valued at $361,750,000 after acquiring an additional 3,893,801 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Infosys by 0.7% in the 1st 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 boosted its holdings in Infosys by 7.4% in the 1st quarter. Bank of America Corp DE now owns 6,790,666 shares of the technology company's stock valued at $91,742,000 after purchasing an additional 469,843 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Infosys by 8.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,490,358 shares of the technology company's stock worth $87,685,000 after purchasing an additional 521,169 shares in the last quarter. Finally, Hudson Edge Investment Partners Inc. increased its holdings in shares of Infosys by 56.5% during the first quarter. Hudson Edge Investment Partners Inc. now owns 4,452,990 shares of the technology company's stock worth $60,160,000 after purchasing an additional 1,607,300 shares during the period. Institutional investors own 16.20% of the company's stock.

Infosys Stock Down 2.5%

NYSE INFY opened at $12.28 on Thursday. The company has a market cap of $49.70 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 2.94 and a beta of 0.88. Infosys Ltd. has a twelve month low of $10.30 and a twelve month high of $30.00. The business's fifty day moving average is $11.53 and its 200 day moving average is $13.13.

Infosys (NYSE:INFY - Get Free Report) last issued its earnings results on Thursday, July 23rd. The technology company reported $0.20 earnings per share (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 firm had revenue of $4.99 billion during the quarter, compared to analyst estimates of $5.08 billion. On average, research analysts anticipate that Infosys Ltd. will post 0.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

INFY has been the subject of several recent research reports. Stifel Nicolaus set a $13.00 price target on Infosys and gave the company a "hold" rating in a research note on Thursday, July 16th. TD Cowen reaffirmed 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. Weiss Ratings downgraded Infosys from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. Wells Fargo & Company set a $11.00 price target on Infosys and gave the stock an "equal weight" rating in a research report on Friday, June 26th. Finally, Susquehanna dropped their price target on Infosys from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Friday, July 24th. Eight analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $11.63.

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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