Public Employees Retirement System of Ohio Sells 463,710 Shares of Infosys Ltd. $INFY

Public Employees Retirement System of Ohio cut its holdings in Infosys Ltd. (NYSE:INFY) by 43.4% during the first quarter, Holdings Channel.com reports. The firm owned 605,793 shares of the technology company’s stock after selling 463,710 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Infosys were worth $8,184,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Trinity Street Asset Management LLP grew its position in Infosys by 45.5% in the first quarter. Trinity Street Asset Management LLP now owns 14,938,546 shares of the technology company’s stock valued at $201,820,000 after purchasing an additional 4,674,742 shares in the last quarter. Hudson Edge Investment Partners Inc. lifted its position in Infosys by 56.5% during the 1st quarter. Hudson Edge Investment Partners Inc. now owns 4,452,990 shares of the technology company’s stock worth $60,160,000 after buying an additional 1,607,300 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Infosys by 49.3% during the 1st quarter. Bessemer Group Inc. now owns 1,720,708 shares of the technology company’s stock worth $23,248,000 after buying an additional 568,573 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Infosys by 8.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,490,358 shares of the technology company’s stock worth $87,685,000 after buying an additional 521,169 shares during the last quarter. Finally, ABN Amro Investment Solutions grew its holdings in shares of Infosys by 94.2% in the 1st quarter. ABN Amro Investment Solutions now owns 997,028 shares of the technology company’s stock valued at $13,470,000 after acquiring an additional 483,700 shares in the last quarter. Institutional investors own 16.20% of the company’s stock.

Analysts Set New Price Targets

INFY has been the topic of several analyst reports. Wells Fargo & Company set a $11.00 target price on Infosys and gave the stock an “equal weight” rating in a report on Friday, June 26th. BMO Capital Markets restated a “market perform” rating and issued a $12.00 price target (down from $13.00) on shares of Infosys in a research note on Friday. Stifel Nicolaus set a $13.00 price target on Infosys and gave the stock a “hold” rating in a research report on Thursday, July 16th. TD Cowen reiterated a “hold” rating and set a $9.00 price objective (down from $10.00) on shares of Infosys in a research note on Friday. Finally, HSBC set a $11.47 price objective on Infosys and gave the company a “hold” rating in a report on Friday. Nine equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Infosys has a consensus rating of “Reduce” and a consensus price target of $11.63.

Infosys Trading Up 5.6%

INFY opened at $11.73 on Tuesday. The stock’s fifty day simple moving average is $11.60 and its 200 day simple moving average is $13.63. Infosys Ltd. has a 1-year low of $10.30 and a 1-year high of $30.00. The stock has a market cap of $47.49 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 2.57 and a beta of 0.90.

Infosys (NYSE:INFY) last released its quarterly earnings data 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 return on equity of 33.91% and a net margin of 16.38%.The company had revenue of $4.99 billion for the quarter, compared to the consensus estimate of $5.08 billion. Equities analysts forecast that Infosys Ltd. will post 0.81 earnings per share for the current year.

About Infosys

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.