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

Trinity Street Asset Management LLP decreased its holdings in Infosys Ltd. (NYSE:INFY) by 12.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 13,079,146 shares of the technology company’s stock after selling 1,859,400 shares during the period. Infosys accounts for approximately 7.1% of Trinity Street Asset Management LLP’s investment portfolio, making the stock its 6th biggest holding. Trinity Street Asset Management LLP’s holdings in Infosys were worth $137,200,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Boston Common Asset Management LLC raised its position in Infosys by 1.1% during the 1st quarter. Boston Common Asset Management LLC now owns 208,639 shares of the technology company’s stock worth $2,819,000 after purchasing an additional 2,300 shares during the last quarter. Confluence Investment Management LLC grew its position in shares of Infosys by 19.1% in the 2nd quarter. Confluence Investment Management LLC now owns 17,636 shares of the technology company’s stock valued at $185,000 after buying an additional 2,826 shares during the last quarter. Glenmede Trust Co. NA grew its position in shares of Infosys by 17.8% in the 1st quarter. Glenmede Trust Co. NA now owns 21,055 shares of the technology company’s stock valued at $284,000 after buying an additional 3,179 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Infosys by 3.9% in the first quarter. Cetera Investment Advisers now owns 88,825 shares of the technology company’s stock valued at $1,200,000 after buying an additional 3,308 shares during the period. Finally, Laidlaw Wealth Management LLC increased its stake in shares of Infosys by 30.8% in the first quarter. Laidlaw Wealth Management LLC now owns 14,650 shares of the technology company’s stock valued at $198,000 after buying an additional 3,450 shares during the period. 16.20% of the stock is currently owned by institutional investors and hedge funds.

Infosys Price Performance

INFY stock opened at $12.28 on Thursday. The company’s 50-day moving average is $11.53 and its 200-day moving average is $13.13. The stock has a market capitalization of $49.70 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 2.94 and a beta of 0.88. Infosys Ltd. has a 1 year low of $10.30 and a 1 year high of $30.00.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Stifel Nicolaus set a $13.00 price objective on Infosys and gave the stock a “hold” rating in a research note on Thursday, July 16th. Weiss Ratings cut Infosys from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Susquehanna decreased their target price on shares of Infosys from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, July 24th. BMO Capital Markets restated a “market perform” rating and set a $12.00 price target (down from $13.00) on shares of Infosys in a report on Friday, July 24th. Finally, Wells Fargo & Company set a $11.00 price target on shares of Infosys and gave the stock an “equal weight” rating in a research report on Friday, June 26th. Eight analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $11.63.

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.