Infosys Ltd. $INFY is Trinity Street Asset Management LLP’s 2nd Largest Position

Trinity Street Asset Management LLP grew its position in shares of Infosys Ltd. (NYSE:INFY) by 45.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,938,546 shares of the technology company’s stock after purchasing an additional 4,674,742 shares during the period. Infosys makes up about 13.8% of Trinity Street Asset Management LLP’s investment portfolio, making the stock its 2nd largest position. Trinity Street Asset Management LLP’s holdings in Infosys were worth $201,820,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INFY. NewEdge Advisors LLC lifted its holdings in Infosys by 79.9% in the 1st quarter. NewEdge Advisors LLC now owns 54,978 shares of the technology company’s stock worth $1,003,000 after buying an additional 24,426 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Infosys during the first quarter valued at about $239,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Infosys by 6.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,155 shares of the technology company’s stock valued at $1,153,000 after acquiring an additional 3,804 shares in the last quarter. Hedge funds and other institutional investors own 16.20% of the company’s stock.

Infosys Stock Performance

INFY opened at $10.48 on Wednesday. The company has a market capitalization of $42.43 billion, a P/E ratio of 13.10, a PEG ratio of 1.39 and a beta of 0.89. The company has a 50-day moving average of $12.17 and a 200-day moving average of $14.60. Infosys Ltd. has a 1-year low of $10.34 and a 1-year high of $30.00.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Wednesday, April 1st. The technology company reported $0.23 EPS for the quarter. The business had revenue of $5.04 billion for the quarter. Infosys had a net margin of 16.44% and a return on equity of 32.64%. As a group, sell-side analysts expect that Infosys Ltd. will post 0.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INFY has been the topic of several recent analyst reports. Susquehanna cut their price target on Infosys from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Weiss Ratings restated a “hold (c-)” rating on shares of Infosys in a research note on Monday, June 8th. Stifel Nicolaus set a $15.00 price objective on Infosys in a report on Thursday, April 23rd. JPMorgan Chase & Co. cut their target price on Infosys from $16.80 to $12.70 and set an “overweight” rating on the stock in a research report on Wednesday, June 24th. Finally, BMO Capital Markets reduced their target price on Infosys from $20.00 to $15.00 and set a “market perform” rating for the company in a research note on Friday, April 24th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $13.63.

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.