Royal Bank of Canada Raises Holdings in Infosys Ltd. $INFY

Royal Bank of Canada raised its position in Infosys Ltd. (NYSE:INFY) by 31.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,156,539 shares of the technology company’s stock after purchasing an additional 279,954 shares during the period. Royal Bank of Canada’s holdings in Infosys were worth $15,625,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INFY. SummitTX Capital L.P. grew its holdings in shares of Infosys by 282.1% during the first quarter. SummitTX Capital L.P. now owns 92,476 shares of the technology company’s stock worth $1,249,000 after buying an additional 68,276 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Infosys by 17.0% in the first quarter. Lazard Asset Management LLC now owns 26,776,494 shares of the technology company’s stock worth $361,750,000 after buying an additional 3,893,801 shares in the last quarter. Weiss Asset Management LP acquired a new position in Infosys during the first quarter worth about $10,708,000. Van Diest Capital LLC purchased a new stake in Infosys during the 1st quarter valued at about $370,000. Finally, Waverly Advisors LLC grew its stake in Infosys by 3.6% during the 1st quarter. Waverly Advisors LLC now owns 326,426 shares of the technology company’s stock valued at $4,410,000 after acquiring an additional 11,218 shares in the last quarter. Institutional investors and hedge funds own 16.20% of the company’s stock.

Infosys Price Performance

NYSE INFY opened at $12.53 on Friday. The stock has a market capitalization of $50.69 billion, a P/E ratio of 15.46, a PEG ratio of 2.88 and a beta of 0.88. The firm’s 50-day moving average is $11.56 and its two-hundred day moving average is $13.29. Infosys Ltd. has a 12 month low of $10.30 and a 12 month high of $30.00.

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

Analyst Upgrades and Downgrades

INFY has been the topic of a number of research reports. BMO Capital Markets reissued a “market perform” rating and issued a $12.00 target price (down from $13.00) on shares of Infosys in a research note on Friday, July 24th. Susquehanna reduced their price objective on Infosys from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, July 24th. HSBC set a $11.47 target price on Infosys and gave the company a “hold” rating in a report on Friday, July 24th. Weiss Ratings lowered Infosys from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Finally, Stifel Nicolaus set a $13.00 price target on shares of Infosys and gave the company a “hold” rating in a research report on Thursday, July 16th. Eight investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Infosys currently has an average rating of “Reduce” and a consensus 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.