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

Millennium Management LLC decreased its position in shares of Infosys Limited (NYSE:INFY - Free Report) by 27.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,962,556 shares of the technology company's stock after selling 2,308,539 shares during the quarter. Millennium Management LLC owned 0.14% of Infosys worth $130,699,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in INFY. BHK Investment Advisors LLC increased 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 worth $499,000 after acquiring an additional 507 shares in the last quarter. Outlook Wealth Advisors LLC increased 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 worth $403,000 after acquiring an additional 508 shares in the last quarter. Kovitz Investment Group Partners LLC increased 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 worth $229,000 after acquiring an additional 579 shares in the last quarter. Flagship Harbor Advisors LLC increased 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 worth $242,000 after acquiring an additional 641 shares in the last quarter. Finally, Atomi Financial Group Inc. increased 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 worth $839,000 after acquiring an additional 655 shares in the last quarter. Institutional investors and hedge funds own 16.20% of the company's stock.

Infosys Stock Performance

Shares of NYSE INFY traded down $0.42 during trading on Friday, hitting $18.30. 12,913,567 shares of the company were exchanged, compared to its average volume of 9,705,116. Infosys Limited has a 12-month low of $15.82 and a 12-month high of $23.63. The company has a fifty day moving average price of $17.70 and a 200-day moving average price of $20.43. The firm has a market capitalization of $75.78 billion, a PE ratio of 23.16, a P/E/G ratio of 3.50 and a beta of 0.98.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Susquehanna raised shares of 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. Guggenheim reissued a "neutral" rating on shares of Infosys in a report on Friday, January 17th. Stifel Nicolaus lowered 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. CLSA raised shares of Infosys from a "hold" rating to an "outperform" rating in a research note on Friday, March 7th. Finally, Investec raised shares of Infosys from a "sell" rating to a "buy" rating in a research note on Friday, April 18th. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Infosys has a consensus rating of "Moderate Buy" and a consensus price target of $17.48.

Infosys 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.