Infosys Limited (NYSE:INFY) is Genesis Investment Management LLP’s 7th Largest Position

Genesis Investment Management LLP lowered its stake in shares of Infosys Limited (NYSE:INFY) by 20.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,450,445 shares of the technology company’s stock after selling 368,232 shares during the quarter. Infosys accounts for about 6.2% of Genesis Investment Management LLP’s portfolio, making the stock its 7th largest position. Genesis Investment Management LLP’s holdings in Infosys were worth $32,301,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Infosys by 33.0% during the 1st quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock worth $43,000 after purchasing an additional 593 shares during the last quarter. Hilltop National Bank lifted its holdings in Infosys by 50.8% during the 2nd quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after buying an additional 1,004 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Infosys by 126.7% during the 2nd 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. Ridgewood Investments LLC purchased a new position in shares of Infosys in the 2nd quarter valued at about $162,000. Finally, Foster Group Inc. acquired a new stake in shares of Infosys during the 3rd quarter worth about $214,000. 10.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Finally, Investec cut Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.68.

Infosys Stock Performance

INFY traded down $0.07 on Wednesday, hitting $23.25. 321,684 shares of the company were exchanged, compared to its average volume of 9,306,009. The business’s fifty day moving average is $22.44 and its 200 day moving average is $19.71. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.48. The firm has a market capitalization of $96.25 billion, a P/E ratio of 30.66, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. Infosys had a net margin of 17.18% and a return on equity of 32.01%. The firm had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the prior year, the company earned $0.17 EPS. Analysts forecast that Infosys Limited will post 0.75 EPS for the current fiscal year.

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.