Ovata Capital Management Ltd Takes Position in Infosys Limited (NYSE:INFY)

Ovata Capital Management Ltd bought a new position in shares of Infosys Limited (NYSE:INFY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 465,065 shares of the technology company’s stock, valued at approximately $8,660,000. Infosys makes up about 4.7% of Ovata Capital Management Ltd’s portfolio, making the stock its 9th largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Buckingham Capital Management Inc. lifted its stake in Infosys by 0.6% during the 4th quarter. Buckingham Capital Management Inc. now owns 87,324 shares of the technology company’s stock valued at $1,605,000 after acquiring an additional 499 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Infosys by 22.6% during the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after purchasing an additional 541 shares in the last quarter. Somerset Trust Co boosted its holdings in Infosys by 4.2% during the second quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock worth $282,000 after purchasing an additional 611 shares during the last quarter. Seed Wealth Management Inc. grew its position in Infosys by 5.6% in the 2nd quarter. Seed Wealth Management Inc. now owns 18,260 shares of the technology company’s stock worth $340,000 after purchasing an additional 970 shares in the last quarter. Finally, D Orazio & Associates Inc. increased its stake in Infosys by 7.5% in the 4th quarter. D Orazio & Associates Inc. now owns 14,125 shares of the technology company’s stock valued at $260,000 after buying an additional 983 shares during the last quarter. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Price Performance

Shares of NYSE INFY opened at $22.91 on Friday. Infosys Limited has a one year low of $16.04 and a one year high of $23.48. The business’s fifty day moving average price is $21.46 and its 200-day moving average price is $19.18. The stock has a market capitalization of $94.83 billion, a PE ratio of 30.14, a P/E/G ratio of 3.69 and a beta of 0.98.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Infosys had a net margin of 17.18% and a return on equity of 32.01%. During the same quarter in the previous year, the firm posted $0.17 EPS. As a group, equities analysts expect that Infosys Limited will post 0.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Macquarie upgraded Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Infosys has a consensus rating of “Hold” and a consensus target price of $19.27.

About Infosys

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.