Infosys Limited (NYSE:INFY) Stock Position Reduced by Oldfield Partners LLP

Oldfield Partners LLP trimmed its holdings in shares of Infosys Limited (NYSE:INFY) by 2.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 948,698 shares of the technology company’s stock after selling 20,800 shares during the quarter. Infosys accounts for approximately 2.4% of Oldfield Partners LLP’s holdings, making the stock its 9th biggest holding. Oldfield Partners LLP’s holdings in Infosys were worth $15,246,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in INFY. State Street Corp boosted its stake in Infosys by 34.6% in the first quarter. State Street Corp now owns 19,989,499 shares of the technology company’s stock valued at $497,539,000 after acquiring an additional 5,143,124 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Infosys by 6.7% in the first quarter. JPMorgan Chase & Co. now owns 72,618,957 shares of the technology company’s stock valued at $1,266,476,000 after acquiring an additional 4,557,724 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Infosys by 216.8% in the first quarter. Acadian Asset Management LLC now owns 5,425,668 shares of the technology company’s stock valued at $94,608,000 after acquiring an additional 3,713,279 shares in the last quarter. Bank of America Corp DE boosted its stake in Infosys by 53.7% in the first quarter. Bank of America Corp DE now owns 6,318,517 shares of the technology company’s stock valued at $110,195,000 after acquiring an additional 2,208,411 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Infosys during the first quarter worth $37,599,000. 11.39% of the stock is currently owned by hedge funds and other institutional investors.

Infosys Price Performance

Shares of INFY stock traded down $0.03 during trading hours on Tuesday, hitting $17.73. The company had a trading volume of 851,723 shares, compared to its average volume of 9,476,198. The company’s fifty day moving average is $17.05 and its 200 day moving average is $16.43. Infosys Limited has a fifty-two week low of $14.71 and a fifty-two week high of $20.57. The stock has a market capitalization of $73.37 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 2.49 and a beta of 0.97.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, July 20th. The technology company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Infosys had a return on equity of 32.39% and a net margin of 16.41%. The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.55 billion. Equities analysts forecast that Infosys Limited will post 0.71 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Infosys in a research note on Tuesday, August 22nd. They set a “buy” rating for the company. StockNews.com began coverage on shares of Infosys in a research note on Thursday, August 17th. They set a “hold” rating for the company. JPMorgan Chase & Co. began coverage on shares of Infosys in a research report on Tuesday, May 23rd. They set an “underweight” rating and a $14.00 target price for the company. Nomura upgraded shares of Infosys from a “reduce” rating to a “neutral” rating in a research report on Friday, September 8th. Finally, Wedbush restated an “outperform” rating and set a $22.00 target price on shares of Infosys in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.00.

About Infosys

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.