Infosys Limited (NYSE:INFY) Shares Bought by Millennium Management LLC

Millennium Management LLC boosted its stake in shares of Infosys Limited (NYSE:INFY) by 67.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 7,601,073 shares of the technology company’s stock after purchasing an additional 3,074,432 shares during the quarter. Millennium Management LLC’s holdings in Infosys were worth $141,532,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Baader Bank Aktiengesellschaft purchased a new position in Infosys in the second quarter valued at $529,000. BNP Paribas acquired a new position in Infosys in the 1st quarter worth about $1,169,000. Alberta Investment Management Corp boosted its position in Infosys by 118.6% during the fourth quarter. Alberta Investment Management Corp now owns 1,328,956 shares of the technology company’s stock worth $24,426,000 after purchasing an additional 720,885 shares in the last quarter. FIL Ltd grew its holdings in Infosys by 5.9% in the fourth quarter. FIL Ltd now owns 18,459,935 shares of the technology company’s stock valued at $339,294,000 after purchasing an additional 1,031,371 shares during the period. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Infosys in the first quarter valued at approximately $862,000. 10.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INFY has been the topic of a number of research analyst reports. Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. Finally, Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $19.27.

Infosys Stock Down 2.5 %

Shares of NYSE INFY opened at $22.39 on Friday. The stock has a market capitalization of $92.69 billion, a price-to-earnings ratio of 29.46, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Infosys Limited has a 52 week low of $16.04 and a 52 week high of $23.48. The firm has a 50-day simple moving average of $22.38 and a 200-day simple moving average of $19.52.

Infosys (NYSE:INFY) last released its earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. The business had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.67 billion. Infosys had a net margin of 17.18% and a return on equity of 32.01%. During the same period last year, the company posted $0.17 EPS. As a group, equities research analysts expect that Infosys Limited will post 0.75 EPS for the current year.

Infosys Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides digital marketing and digital workplace, digital commerce, digital experience and interactions, metaverse, data analytics and AI, applied AI, generative AI, sustainability, blockchain, engineering, Internet of Things, enterprise agile DevOps, application modernization, cloud, digital process automation, digital supply chain, Microsoft business application and cloud business, service experience transformation, energy transition, cyber security, and quality engineering solutions; Oracle, SAP, and Saleforce solutions; API economy and microservices; and Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies.