Oldfield Partners LLP Reduces Holdings in Infosys Limited (NYSE:INFY)

Oldfield Partners LLP lowered its stake in shares of Infosys Limited (NYSE:INFY) by 26.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 550,198 shares of the technology company’s stock after selling 200,200 shares during the quarter. Infosys comprises 1.9% of Oldfield Partners LLP’s holdings, making the stock its 9th largest holding. Oldfield Partners LLP’s holdings in Infosys were worth $10,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in Infosys by 33.0% in the first quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock worth $43,000 after acquiring an additional 593 shares in the last quarter. Hilltop National Bank boosted its holdings in Infosys by 50.8% in the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after acquiring an additional 1,004 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in Infosys in the fourth quarter worth about $56,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Infosys by 126.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after acquiring an additional 1,693 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Infosys by 113.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,130 shares of the technology company’s stock worth $58,000 after acquiring an additional 1,663 shares in the last quarter. Institutional investors own 10.89% of the company’s stock.

Infosys Trading Down 0.2 %

Shares of INFY stock opened at $23.20 on Monday. The stock has a 50 day moving average of $21.91 and a 200 day moving average of $19.29. The stock has a market cap of $96.09 billion, a P/E ratio of 30.53, a P/E/G ratio of 3.63 and a beta of 0.99. Infosys Limited has a twelve month low of $16.04 and a twelve month high of $23.48.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Infosys had a return on equity of 32.01% and a net margin of 17.18%. During the same period last year, the business earned $0.17 earnings per share. On average, research analysts predict that Infosys Limited will post 0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on INFY shares. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. StockNews.com raised Infosys from a “hold” rating to a “buy” rating in a report on Friday. Finally, Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.27.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides digital marketing and digital workplace, digital commerce, digital experience and interactions, metaverse, data analytics and AI, applied AI, generative AI, sustainability, blockchain, engineering, Internet of Things, enterprise agile DevOps, application modernization, cloud, digital process automation, digital supply chain, Microsoft business application and cloud business, service experience transformation, energy transition, cyber security, and quality engineering solutions; Oracle, SAP, and Saleforce solutions; API economy and microservices; and Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies.