Public Employees Retirement System of Ohio Acquires Shares of 2,214,958 Infosys Ltd. $INFY

Public Employees Retirement System of Ohio bought a new position in Infosys Ltd. (NYSE:INFY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,214,958 shares of the technology company’s stock, valued at approximately $23,235,000.

Other institutional investors and hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in shares of Infosys in the first quarter worth $97,000. Laidlaw Wealth Management LLC purchased a new position in Infosys in the second quarter valued at about $117,000. Foster Group Inc. purchased a new position in Infosys in the second quarter valued at about $127,000. State of Wyoming acquired a new position in Infosys in the 1st quarter worth about $134,000. Finally, Aureus Asset Management LLC purchased a new stake in shares of Infosys during the 1st quarter worth about $142,000. 16.20% of the stock is currently owned by hedge funds and other institutional investors.

Infosys Price Performance

Shares of INFY opened at $12.09 on Friday. The company has a market capitalization of $48.96 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 2.81 and a beta of 0.88. Infosys Ltd. has a one year low of $10.30 and a one year high of $30.00. The company’s fifty day moving average price is $11.58 and its 200 day moving average price is $12.68.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). The business had revenue of $4.99 billion during 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%. Analysts anticipate that Infosys Ltd. will post 0.81 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on INFY shares. BMO Capital Markets reiterated a “market perform” rating and set a $12.00 price target (down from $13.00) on shares of Infosys in a report on Friday, July 24th. Stifel Nicolaus set a $13.00 price objective on shares of Infosys and gave the company a “hold” rating in a research report on Thursday, July 16th. TD Cowen reiterated a “hold” rating and issued a $9.00 target price (down from $10.00) on shares of Infosys in a research note on Friday, July 24th. CLSA downgraded shares of Infosys from an “outperform” rating to a “hold” rating in a research report on Wednesday, August 19th. Finally, Susquehanna dropped their price target on shares of Infosys from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, July 24th. Nine equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average 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.