Public Employees Retirement System of Ohio Has $8.18 Million Position in Infosys Ltd. $INFY

Public Employees Retirement System of Ohio cut its stake in Infosys Ltd. (NYSE:INFY) by 43.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 605,793 shares of the technology company’s stock after selling 463,710 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Infosys were worth $8,184,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Modern Wealth Management LLC increased its stake in Infosys by 33.3% in the first quarter. Modern Wealth Management LLC now owns 21,829 shares of the technology company’s stock valued at $290,000 after purchasing an additional 5,450 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Infosys by 8.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,490,358 shares of the technology company’s stock valued at $87,685,000 after buying an additional 521,169 shares during the period. Dickmeyer Boyce Financial Management Inc. acquired a new position in shares of Infosys in the 1st quarter valued at $173,000. Sei Investments Co. increased its position in shares of Infosys by 1.9% in the 1st quarter. Sei Investments Co. now owns 3,038,653 shares of the technology company’s stock valued at $41,052,000 after buying an additional 56,428 shares in the last quarter. Finally, State of Wyoming bought a new stake in shares of Infosys in the 1st quarter valued at $134,000. Institutional investors own 16.20% of the company’s stock.

Infosys Stock Up 5.6%

Shares of NYSE:INFY opened at $11.73 on Tuesday. The firm has a market cap of $47.49 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 2.57 and a beta of 0.90. Infosys Ltd. has a 12 month low of $10.30 and a 12 month high of $30.00. The company’s fifty day simple moving average is $11.60 and its 200 day simple moving average is $13.63.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, July 23rd. The technology company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). The company had revenue of $4.99 billion during the quarter, compared to analyst estimates of $5.08 billion. Infosys had a return on equity of 33.91% and a net margin of 16.38%. Research analysts expect that Infosys Ltd. will post 0.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on INFY shares. Stifel Nicolaus set a $13.00 target price on Infosys and gave the stock a “hold” rating in a report on Thursday, July 16th. Wells Fargo & Company set a $11.00 price target on Infosys and gave the stock an “equal weight” rating in a report on Friday, June 26th. BMO Capital Markets reaffirmed a “market perform” rating and set a $12.00 price target (down from $13.00) on shares of Infosys in a research report on Friday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Infosys in a report on Monday, June 8th. Finally, TD Cowen reiterated a “hold” rating and issued a $9.00 price objective (down from $10.00) on shares of Infosys in a research report on Friday. Nine analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average 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.