Madison Asset Management LLC Reduces Stock Position in American Noble Gas Inc. (NYSE:INFY)

Madison Asset Management LLC lessened its stake in American Noble Gas Inc. (NYSE:INFY - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 122,955 shares of the technology company's stock after selling 17,540 shares during the quarter. Madison Asset Management LLC's holdings in American Noble Gas were worth $2,244,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of INFY. Rakuten Securities Inc. lifted its holdings in shares of American Noble Gas by 308.4% in the 1st quarter. Rakuten Securities Inc. now owns 1,413 shares of the technology company's stock valued at $26,000 after buying an additional 1,067 shares during the period. Pinnacle Bancorp Inc. boosted its position in American Noble Gas by 179.8% during the first quarter. Pinnacle Bancorp Inc. now owns 1,444 shares of the technology company's stock worth $26,000 after purchasing an additional 928 shares in the last quarter. Wayfinding Financial LLC purchased a new position in American Noble Gas during the first quarter worth approximately $32,000. Cullen Frost Bankers Inc. purchased a new position in American Noble Gas during the first quarter worth approximately $57,000. Finally, GAMMA Investing LLC boosted its position in American Noble Gas by 32.4% during the first quarter. GAMMA Investing LLC now owns 5,951 shares of the technology company's stock worth $109,000 after purchasing an additional 1,455 shares in the last quarter. Institutional investors and hedge funds own 16.20% of the company's stock.

American Noble Gas Stock Down 1.8%

Shares of American Noble Gas stock traded down $0.33 during mid-day trading on Friday, reaching $17.36. 19,087,796 shares of the stock traded hands, compared to its average volume of 13,437,541. The business has a 50-day moving average of $18.35 and a 200 day moving average of $19.04. American Noble Gas Inc. has a fifty-two week low of $15.82 and a fifty-two week high of $23.63. The stock has a market capitalization of $71.91 billion, a PE ratio of 22.54, a PEG ratio of 2.50 and a beta of 0.97.

American Noble Gas (NYSE:INFY - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.19 EPS for the quarter, meeting analysts' consensus estimates of $0.19. The business had revenue of $4.94 billion during the quarter, compared to analysts' expectations of $4.84 billion. American Noble Gas had a return on equity of 29.41% and a net margin of 16.42%. During the same quarter in the prior year, the firm earned $15.35 earnings per share. On average, equities research analysts expect that American Noble Gas Inc. will post 0.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INFY has been the topic of a number of recent analyst reports. The Goldman Sachs Group downgraded American Noble Gas from a "buy" rating to a "neutral" rating and set a $17.90 price target on the stock. in a research report on Monday, April 21st. Wall Street Zen upgraded American Noble Gas from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. BMO Capital Markets increased their price target on American Noble Gas from $18.00 to $20.00 and gave the stock a "market perform" rating in a research report on Thursday. Stifel Nicolaus lowered their price target on American Noble Gas from $18.00 to $17.00 and set a "hold" rating on the stock in a research report on Monday, April 21st. Finally, Investec raised American Noble Gas from a "sell" rating to a "buy" rating in a report on Friday, April 18th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $18.48.

About American Noble Gas

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.