Millennium Management LLC Reduces Stake in Infosys Limited (NYSE:INFY)

Millennium Management LLC reduced its position in Infosys Limited (NYSE:INFY) by 27.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 owned about 0.14% of Infosys worth $130,699,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. BHK Investment Advisors LLC raised its holdings in Infosys by 2.3% in the 4th quarter. BHK Investment Advisors LLC now owns 22,785 shares of the technology company’s stock valued at $499,000 after acquiring an additional 507 shares during the last quarter. Outlook Wealth Advisors LLC raised its holdings in Infosys by 2.8% in the 4th quarter. Outlook Wealth Advisors LLC now owns 18,405 shares of the technology company’s stock valued at $403,000 after acquiring an additional 508 shares during the last quarter. Kovitz Investment Group Partners LLC raised its holdings in Infosys by 5.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 10,467 shares of the technology company’s stock valued at $229,000 after acquiring an additional 579 shares during the last quarter. Flagship Harbor Advisors LLC raised its holdings in Infosys by 6.2% in the 4th quarter. Flagship Harbor Advisors LLC now owns 11,026 shares of the technology company’s stock valued at $242,000 after acquiring an additional 641 shares during the last quarter. Finally, Atomi Financial Group Inc. raised its holdings in Infosys by 1.7% in the 4th quarter. Atomi Financial Group Inc. now owns 38,263 shares of the technology company’s stock valued at $839,000 after acquiring an additional 655 shares during the last quarter. Hedge funds and other institutional investors own 16.20% of the company’s stock.

Infosys Stock Down 1.4%

Shares of NYSE INFY opened at $18.39 on Wednesday. Infosys Limited has a 52-week low of $15.82 and a 52-week high of $23.63. The firm has a fifty day moving average of $17.76 and a 200-day moving average of $20.50. The stock has a market capitalization of $76.17 billion, a PE ratio of 23.28, a P/E/G ratio of 3.50 and a beta of 0.98.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, April 17th. The technology company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Infosys had a net margin of 17.28% and a return on equity of 31.60%. The firm had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $420.69 billion. During the same period in the prior year, the company earned $0.23 EPS. Equities research analysts expect that Infosys Limited will post 0.74 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on INFY shares. StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a report on Wednesday, April 23rd. Susquehanna upgraded Infosys from a “negative” rating to a “neutral” rating and set a $17.00 price target for the company in a report on Monday, April 14th. Stifel Nicolaus lowered their price objective on shares of Infosys from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Monday, April 21st. BMO Capital Markets lowered their price objective on shares of Infosys from $25.00 to $18.00 and set a “market perform” rating for the company in a research note on Monday, April 21st. Finally, CLSA raised shares of Infosys from a “hold” rating to an “outperform” rating in a research note on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $17.48.

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.