Coronation Fund Managers Ltd. Has $11.41 Million Position in Infosys Limited (NYSE:INFY)

Coronation Fund Managers Ltd. decreased its holdings in shares of Infosys Limited (NYSE:INFY) by 55.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 612,930 shares of the technology company’s stock after selling 776,411 shares during the period. Coronation Fund Managers Ltd.’s holdings in Infosys were worth $11,413,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Allianz Asset Management GmbH raised its holdings in shares of Infosys by 0.5% in the 4th quarter. Allianz Asset Management GmbH now owns 283,744 shares of the technology company’s stock worth $5,215,000 after acquiring an additional 1,497 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Infosys in the fourth quarter worth approximately $56,000. Exencial Wealth Advisors LLC lifted its holdings in shares of Infosys by 25.7% in the fourth quarter. Exencial Wealth Advisors LLC now owns 36,434 shares of the technology company’s stock valued at $670,000 after purchasing an additional 7,456 shares in the last quarter. Prudential PLC boosted its position in shares of Infosys by 4.3% during the fourth quarter. Prudential PLC now owns 1,073,062 shares of the technology company’s stock valued at $19,723,000 after buying an additional 44,534 shares during the last quarter. Finally, Seven Eight Capital LP grew its holdings in Infosys by 248.8% during the fourth quarter. Seven Eight Capital LP now owns 384,935 shares of the technology company’s stock worth $7,075,000 after buying an additional 274,588 shares in the last quarter. 10.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on INFY shares. StockNews.com upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Monday. Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Finally, Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.27.

Infosys Stock Up 0.5 %

Infosys stock opened at $22.39 on Wednesday. The firm has a 50 day moving average price of $22.40 and a 200-day moving average price of $19.56. Infosys Limited has a twelve month low of $16.04 and a twelve month high of $23.48. The company has a market capitalization of $92.67 billion, a P/E ratio of 29.45, a P/E/G ratio of 3.59 and a beta of 0.99.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.67 billion. Infosys had a return on equity of 32.01% and a net margin of 17.18%. During the same period in the prior year, the company earned $0.17 earnings per share. Equities analysts expect that Infosys Limited will post 0.75 EPS for the current fiscal year.

Infosys Company 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.