Genesis Investment Management LLP Reduces Stock Holdings in Infosys Limited (NYSE:INFY)

Posted by Defense World Staff on Apr 2nd, 2023

Genesis Investment Management LLP reduced its position in shares of Infosys Limited (NYSE:INFY – Get Rating) by 42.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,567,471 shares of the technology company’s stock after selling 1,171,470 shares during the period. Infosys accounts for about 3.2% of Genesis Investment Management LLP’s holdings, making the stock its 10th biggest position. Genesis Investment Management LLP’s holdings in Infosys were worth $28,230,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Naples Global Advisors LLC increased its holdings in Infosys by 2.1% during the fourth quarter. Naples Global Advisors LLC now owns 311,971 shares of the technology company’s stock worth $5,619,000 after buying an additional 6,475 shares during the last quarter. Pendal Group Ltd increased its holdings in Infosys by 14.9% during the fourth quarter. Pendal Group Ltd now owns 493,634 shares of the technology company’s stock worth $8,978,000 after buying an additional 64,151 shares during the last quarter. Ritholtz Wealth Management increased its holdings in Infosys by 144.0% during the fourth quarter. Ritholtz Wealth Management now owns 228,702 shares of the technology company’s stock worth $4,119,000 after buying an additional 134,985 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in Infosys by 110.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 45,725 shares of the technology company’s stock worth $824,000 after buying an additional 24,015 shares during the last quarter. Finally, Ronald Blue Trust Inc. increased its holdings in Infosys by 87.4% during the fourth quarter. Ronald Blue Trust Inc. now owns 41,744 shares of the technology company’s stock worth $708,000 after buying an additional 19,473 shares during the last quarter. 12.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. StockNews.com began coverage on shares of Infosys in a report on Thursday, March 16th. They set a “hold” rating for the company. Wedbush reduced their target price on shares of Infosys from $25.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday, March 13th. Finally, BMO Capital Markets lifted their target price on shares of Infosys from $20.00 to $21.00 and gave the stock a “market perform” rating in a research note on Friday, January 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Infosys currently has a consensus rating of “Hold” and a consensus price target of $20.29.

Infosys Trading Up 1.8 %

Shares of NYSE:INFY opened at $17.44 on Friday. The company has a 50 day moving average of $18.19 and a 200 day moving average of $18.29. The stock has a market cap of $73.01 billion, a P/E ratio of 24.56, a P/E/G ratio of 2.36 and a beta of 1.00. Infosys Limited has a 12 month low of $16.39 and a 12 month high of $25.20.

Infosys (NYSE:INFY – Get Rating) last issued its quarterly earnings data on Thursday, January 12th. The technology company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Infosys had a net margin of 16.66% and a return on equity of 31.23%. During the same quarter in the previous year, the company earned $0.18 earnings per share. On average, equities analysts forecast that Infosys Limited will post 0.72 earnings per share for the current fiscal year.

About Infosys

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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.