Edgestream Partners L.P. Sells 94,323 Shares of Infosys Limited (NYSE:INFY)

Edgestream Partners L.P. reduced its position in Infosys Limited (NYSE:INFYGet Rating) by 47.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 104,314 shares of the technology company’s stock after selling 94,323 shares during the period. Edgestream Partners L.P.’s holdings in Infosys were worth $1,931,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its stake in Infosys by 26.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,089,982 shares of the technology company’s stock valued at $20,176,000 after acquiring an additional 228,488 shares during the period. Logan Capital Management Inc. increased its position in shares of Infosys by 15.7% during the second quarter. Logan Capital Management Inc. now owns 113,781 shares of the technology company’s stock valued at $2,106,000 after buying an additional 15,465 shares during the period. Naples Global Advisors LLC increased its position in shares of Infosys by 1.6% during the second quarter. Naples Global Advisors LLC now owns 299,196 shares of the technology company’s stock valued at $5,600,000 after buying an additional 4,675 shares during the period. Twin Tree Management LP bought a new stake in shares of Infosys during the second quarter valued at about $148,000. Finally, Trexquant Investment LP increased its position in shares of Infosys by 54.7% during the second quarter. Trexquant Investment LP now owns 40,511 shares of the technology company’s stock valued at $750,000 after buying an additional 14,326 shares during the period. 13.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INFY. StockNews.com upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Friday, November 11th. The Goldman Sachs Group cut Infosys from a “buy” rating to a “sell” rating in a research report on Tuesday, September 13th. Susquehanna cut Infosys from a “positive” rating to a “neutral” rating and decreased their price target for the company from $29.00 to $20.00 in a research report on Friday, September 16th. Cowen cut their price objective on Infosys from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, October 14th. Finally, Cowen cut their price objective on Infosys from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, October 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Infosys has a consensus rating of “Hold” and a consensus target price of $21.06.

Infosys Price Performance

Shares of INFY opened at $19.53 on Thursday. The firm has a market cap of $82.17 billion, a P/E ratio of 27.90, a P/E/G ratio of 2.73 and a beta of 0.98. The stock has a 50 day simple moving average of $18.09 and a two-hundred day simple moving average of $18.64. Infosys Limited has a 1 year low of $16.39 and a 1 year high of $26.39.

Infosys (NYSE:INFYGet Rating) last issued its earnings results on Thursday, October 13th. The technology company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.56 billion. Infosys had a return on equity of 30.67% and a net margin of 16.90%. During the same quarter in the prior year, the firm earned $0.17 earnings per share. On average, equities analysts anticipate that Infosys Limited will post 0.71 earnings per share for the current year.

About Infosys

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Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application development and management, independent validation, product engineering and management, infrastructure management, enterprise application management, and support and integration services.

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Institutional Ownership by Quarter for Infosys (NYSE:INFY)

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