Alliancebernstein L.P. Sells 214,791 Shares of Infosys Limited (NYSE:INFY)

Alliancebernstein L.P. lowered its stake in shares of Infosys Limited (NYSE:INFY - Free Report) by 83.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 43,783 shares of the technology company's stock after selling 214,791 shares during the period. Alliancebernstein L.P.'s holdings in Infosys were worth $960,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Infosys in the 4th quarter valued at approximately $311,000. Jones Financial Companies Lllp grew its stake in Infosys by 15.9% in the fourth quarter. Jones Financial Companies Lllp now owns 7,520 shares of the technology company's stock worth $165,000 after purchasing an additional 1,030 shares in the last quarter. Haven Global Partners LLC bought a new position in shares of Infosys during the fourth quarter worth about $4,078,000. Barclays PLC increased its stake in shares of Infosys by 11.8% in the third quarter. Barclays PLC now owns 2,523,605 shares of the technology company's stock valued at $56,200,000 after purchasing an additional 266,902 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of Infosys by 69.7% during the 4th quarter. Farther Finance Advisors LLC now owns 3,115 shares of the technology company's stock worth $68,000 after buying an additional 1,279 shares in the last quarter. Hedge funds and other institutional investors own 16.20% of the company's stock.

Infosys Trading Up 1.1 %

Infosys stock traded up $0.19 during midday trading on Thursday, reaching $17.42. The stock had a trading volume of 1,215,123 shares, compared to its average volume of 9,625,378. Infosys Limited has a 12 month low of $15.82 and a 12 month high of $23.63. The company has a market capitalization of $72.13 billion, a P/E ratio of 22.06, a PEG ratio of 3.50 and a beta of 0.97. The company has a fifty day moving average price of $18.57 and a two-hundred day moving average price of $20.99.

Infosys (NYSE:INFY - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The technology company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. The firm had revenue of $4.79 billion during 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 last year, the business posted $0.23 EPS. On average, equities research analysts predict that Infosys Limited will post 0.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

INFY has been the subject of a number of research reports. CLSA raised shares of Infosys from a "hold" rating to an "outperform" rating in a research note on Friday, March 7th. Investec upgraded Infosys from a "sell" rating to a "buy" rating in a research note on Friday, April 18th. BMO Capital Markets decreased their target price on shares of Infosys from $25.00 to $18.00 and set a "market perform" rating on the stock in a research report on Monday. StockNews.com downgraded shares of Infosys from a "buy" rating to a "hold" rating in a report on Wednesday. Finally, Stifel Nicolaus cut their price target on Infosys from $18.00 to $17.00 and set a "hold" rating for the company in a report on Monday. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Infosys has an average rating of "Moderate Buy" and a consensus target price of $17.48.

About Infosys

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.