Infosys Limited (NYSE:INFY) Shares Sold by Carolina Wealth Advisors LLC

Carolina Wealth Advisors LLC decreased its stake in Infosys Limited (NYSE:INFY) by 4.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 226,423 shares of the technology company’s stock after selling 10,719 shares during the period. Infosys makes up 2.6% of Carolina Wealth Advisors LLC’s portfolio, making the stock its 17th biggest position. Carolina Wealth Advisors LLC’s holdings in Infosys were worth $5,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Canada Pension Plan Investment Board grew its position in shares of Infosys by 37.3% during the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock worth $401,826,000 after buying an additional 5,862,144 shares in the last quarter. Millennium Management LLC lifted its position in shares of Infosys by 67.9% during the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock worth $141,532,000 after purchasing an additional 3,074,432 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Infosys by 106.1% in the first quarter. Acadian Asset Management LLC now owns 4,839,764 shares of the technology company’s stock valued at $86,764,000 after buying an additional 2,491,403 shares during the last quarter. Wellington Management Group LLP raised its stake in Infosys by 539.8% during the fourth quarter. Wellington Management Group LLP now owns 2,010,636 shares of the technology company’s stock valued at $36,955,000 after buying an additional 1,696,378 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in Infosys by 46.0% during the second quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company’s stock valued at $97,467,000 after buying an additional 1,648,650 shares in the last quarter. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

Infosys Stock Performance

Shares of NYSE:INFY traded down $0.36 during midday trading on Monday, hitting $22.15. 5,528,217 shares of the stock were exchanged, compared to its average volume of 9,341,167. Infosys Limited has a 52-week low of $16.04 and a 52-week high of $23.48. The business’s fifty day simple moving average is $22.68 and its two-hundred day simple moving average is $20.00. The company has a market capitalization of $91.70 billion, a PE ratio of 28.87, a P/E/G ratio of 3.68 and a beta of 0.99.

Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. Infosys had a net margin of 17.18% and a return on equity of 32.01%. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter last year, the firm earned $0.18 EPS. As a group, equities analysts anticipate that Infosys Limited will post 0.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INFY. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. BMO Capital Markets lifted their target price on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday. StockNews.com raised Infosys from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. Finally, Investec downgraded Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Infosys presently has an average rating of “Hold” and a consensus price target of $20.85.

Infosys Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides digital marketing and digital workplace, digital commerce, digital experience and interactions, metaverse, data analytics and AI, applied AI, generative AI, sustainability, blockchain, engineering, Internet of Things, enterprise agile DevOps, application modernization, cloud, digital process automation, digital supply chain, Microsoft business application and cloud business, service experience transformation, energy transition, cyber security, and quality engineering solutions; Oracle, SAP, and Saleforce solutions; API economy and microservices; and Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies.