RWC Asset Management LLP Sells 83,087 Shares of Infosys Limited (NYSE:INFY)

RWC Asset Management LLP lowered its holdings in Infosys Limited (NYSE:INFY) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,467,761 shares of the technology company’s stock after selling 83,087 shares during the quarter. Infosys makes up 1.6% of RWC Asset Management LLP’s portfolio, making the stock its 21st biggest position. RWC Asset Management LLP’s holdings in Infosys were worth $26,977,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. HB Wealth Management LLC raised its stake in shares of Infosys by 5.7% during the 4th quarter. HB Wealth Management LLC now owns 10,661 shares of the technology company’s stock worth $196,000 after acquiring an additional 575 shares in the last quarter. Marshall Financial Group LLC grew its position in Infosys by 1.2% during the 4th quarter. Marshall Financial Group LLC now owns 52,478 shares of the technology company’s stock worth $965,000 after purchasing an additional 622 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Infosys by 3.2% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 22,100 shares of the technology company’s stock valued at $378,000 after acquiring an additional 680 shares during the last quarter. Drive Wealth Management LLC boosted its holdings in shares of Infosys by 6.1% in the 4th quarter. Drive Wealth Management LLC now owns 12,354 shares of the technology company’s stock valued at $227,000 after acquiring an additional 707 shares during the last quarter. Finally, Bank Pictet & Cie Asia Ltd. boosted its holdings in shares of Infosys by 0.7% in the 3rd quarter. Bank Pictet & Cie Asia Ltd. now owns 97,812 shares of the technology company’s stock valued at $1,674,000 after acquiring an additional 724 shares during the last quarter. Institutional investors own 10.89% of the company’s stock.

Infosys Trading Down 0.4 %

NYSE:INFY traded down $0.07 during trading hours on Friday, reaching $16.94. 8,845,064 shares of the company were exchanged, compared to its average volume of 12,953,776. The stock’s 50-day moving average is $18.49 and its 200-day moving average is $18.32. The firm has a market cap of $70.12 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 2.27 and a beta of 0.93. Infosys Limited has a twelve month low of $14.98 and a twelve month high of $20.74.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, April 18th. The technology company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Infosys had a net margin of 17.06% and a return on equity of 32.33%. During the same period in the prior year, the business earned $0.18 earnings per share. As a group, research analysts anticipate that Infosys Limited will post 0.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INFY. UBS Group raised shares of Infosys from a “neutral” rating to a “buy” rating in a report on Wednesday, January 3rd. Wedbush reissued an “outperform” rating and set a $22.00 price target on shares of Infosys in a report on Wednesday, March 13th. HSBC reissued a “hold” rating and set a $20.10 price target on shares of Infosys in a report on Friday, April 19th. StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Bank of America raised shares of Infosys from a “neutral” rating to a “buy” rating in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $19.27.

Infosys 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.