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

Alliancebernstein L.P. decreased its position in Infosys Limited (NYSE:INFY - Free Report) by 83.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MML Investors Services LLC grew its position in Infosys by 27.6% during the third quarter. MML Investors Services LLC now owns 19,685 shares of the technology company's stock valued at $438,000 after buying an additional 4,261 shares during the period. Barclays PLC boosted its stake in 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 acquiring an additional 266,902 shares during the last quarter. Tudor Financial Inc. bought a new position in shares of Infosys during the 3rd quarter valued at approximately $496,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Infosys during the 3rd quarter worth approximately $57,000. Finally, Tidal Investments LLC raised its holdings in shares of Infosys by 31.6% in the 3rd quarter. Tidal Investments LLC now owns 42,315 shares of the technology company's stock worth $942,000 after purchasing an additional 10,149 shares during the period. Hedge funds and other institutional investors own 16.20% of the company's stock.

Analyst Ratings Changes

INFY has been the subject of several research reports. Investec raised Infosys from a "sell" rating to a "buy" rating in a report on Friday. Stifel Nicolaus decreased their price objective on Infosys from $22.00 to $18.00 and set a "hold" rating for the company in a report on Tuesday, April 15th. Guggenheim reaffirmed a "neutral" rating on shares of Infosys in a report on Friday, January 17th. CLSA raised shares of Infosys from a "hold" rating to an "outperform" rating in a research report on Friday, March 7th. Finally, StockNews.com downgraded shares of Infosys from a "buy" rating to a "hold" rating in a report on Tuesday, April 15th. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Infosys currently has an average rating of "Moderate Buy" and an average target price of $20.00.

Infosys Trading Down 2.7 %

Infosys stock opened at $16.14 on Friday. The firm's 50 day simple moving average is $18.85 and its 200 day simple moving average is $21.10. Infosys Limited has a 1-year low of $15.82 and a 1-year high of $23.63. The firm has a market capitalization of $66.84 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 3.50 and a beta of 0.97.

Infosys (NYSE:INFY - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $420.69 billion. During the same quarter last year, the company earned $0.23 earnings per share. Research analysts forecast that Infosys Limited will post 0.74 earnings per share for the current year.

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.

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