Millennium Management LLC Decreases Holdings in Infosys Limited (NYSE:INFY)

Millennium Management LLC reduced its position in Infosys Limited (NYSE:INFY) by 27.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,962,556 shares of the technology company’s stock after selling 2,308,539 shares during the period. Millennium Management LLC’s holdings in Infosys were worth $130,699,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Infosys in the 4th quarter valued at about $311,000. Jones Financial Companies Lllp boosted its position in Infosys by 15.9% in the 4th quarter. Jones Financial Companies Lllp now owns 7,520 shares of the technology company’s stock valued at $165,000 after buying an additional 1,030 shares during the last quarter. Fullerton Fund Management Co Ltd. purchased a new position in Infosys in the 4th quarter valued at about $4,465,000. Haven Global Partners LLC purchased a new position in Infosys in the 4th quarter valued at about $4,078,000. Finally, Barclays PLC boosted its position in Infosys by 11.8% in the 3rd quarter. Barclays PLC now owns 2,523,605 shares of the technology company’s stock valued at $56,200,000 after buying an additional 266,902 shares during the last quarter. 16.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INFY has been the subject of a number of analyst reports. Guggenheim reissued a “neutral” rating on shares of Infosys in a research report on Friday, January 17th. CLSA upgraded shares of Infosys from a “hold” rating to an “outperform” rating in a research note on Friday, March 7th. Stifel Nicolaus cut their target price on shares of Infosys from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Monday, April 21st. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a research note on Wednesday, April 23rd. Finally, Investec upgraded shares of Infosys from a “sell” rating to a “buy” rating in a research note on Friday, April 18th. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Infosys presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.48.

Infosys Stock Down 1.4%

INFY opened at $18.39 on Wednesday. The firm has a market cap of $76.17 billion, a price-to-earnings ratio of 23.28, a price-to-earnings-growth ratio of 3.50 and a beta of 0.98. Infosys Limited has a fifty-two week low of $15.82 and a fifty-two week high of $23.63. The company’s 50-day moving average price is $17.76 and its 200 day moving average price is $20.50.

Infosys (NYSE:INFY) last released its quarterly earnings data on Thursday, April 17th. The technology company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $420.69 billion. Infosys had a net margin of 17.28% and a return on equity of 31.60%. During the same quarter in the prior year, the business earned $0.23 earnings per share. Research analysts anticipate that Infosys Limited will post 0.74 earnings per share for the current year.

Infosys Company 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.