Wellington Management Group LLP Decreases Stake in Infosys Limited (NYSE:INFY)

Wellington Management Group LLP cut its holdings in Infosys Limited (NYSE:INFY - Free Report) by 11.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,061,801 shares of the technology company's stock after selling 275,129 shares during the quarter. Wellington Management Group LLP's holdings in Infosys were worth $45,195,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in INFY. Barclays PLC lifted 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 worth $56,200,000 after acquiring an additional 266,902 shares during the period. SG Americas Securities LLC acquired a new position in shares of Infosys during the fourth quarter valued at about $311,000. Flagship Harbor Advisors LLC increased its holdings in shares of Infosys by 6.2% during the fourth quarter. Flagship Harbor Advisors LLC now owns 11,026 shares of the technology company's stock valued at $242,000 after acquiring an additional 641 shares in the last quarter. BSW Wealth Partners increased its holdings in shares of Infosys by 3.9% during the fourth quarter. BSW Wealth Partners now owns 20,989 shares of the technology company's stock valued at $460,000 after acquiring an additional 790 shares in the last quarter. Finally, Foster Group Inc. increased its holdings in shares of Infosys by 8.7% during the fourth quarter. Foster Group Inc. now owns 10,421 shares of the technology company's stock valued at $228,000 after acquiring an additional 832 shares in the last quarter. 16.20% of the stock is owned by hedge funds and other institutional investors.

Infosys Stock Down 0.9%

Shares of NYSE INFY traded down $0.17 during midday trading on Tuesday, reaching $18.02. 2,359,022 shares of the stock were exchanged, compared to its average volume of 9,650,484. The firm has a 50-day simple moving average of $17.65 and a two-hundred day simple moving average of $20.18. Infosys Limited has a twelve month low of $15.82 and a twelve month high of $23.63. The firm has a market cap of $74.64 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 3.50 and a beta of 0.98.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group downgraded shares of Infosys from a "buy" rating to a "neutral" rating and set a $17.90 price objective on the stock. in a report on Monday, April 21st. CLSA upgraded shares of Infosys from a "hold" rating to an "outperform" rating in a report on Friday, March 7th. Investec upgraded shares of Infosys from a "sell" rating to a "buy" rating in a report on Friday, April 18th. Wall Street Zen upgraded shares of Infosys from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Finally, Susquehanna upgraded shares of Infosys from a "negative" rating to a "neutral" rating and set a $17.00 price target on the stock in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $17.48.

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.