Wellington Management Group LLP Purchases 384,562 Shares of Infosys Ltd. $INFY

Key Points

• Wellington Management increased its Infosys stake by 64% in the second quarter, purchasing 384,562 additional shares and bringing its holdings to 985,062 shares valued at approximately $10.3 million.
• Infosys shares opened at $11.17, down 4.5%, while the company’s latest quarterly results slightly missed expectations with earnings of $0.20 per share and revenue of $4.99 billion.
• Analyst sentiment remains cautious: nine analysts rate the stock “Hold” and one rates it “Sell,” producing a consensus “Reduce” rating and an average price target of $11.59.

Wellington Management Group LLP lifted its position in shares of Infosys Ltd. (NYSE:INFY - Free Report) by 64.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 985,062 shares of the technology company's stock after purchasing an additional 384,562 shares during the quarter. Wellington Management Group LLP's holdings in Infosys were worth $10,333,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in Infosys during the first quarter worth $97,000. Laidlaw Wealth Management LLC bought a new stake in Infosys in the 2nd quarter valued at $117,000. Foster Group Inc. acquired a new position in shares of Infosys in the 2nd quarter valued at $127,000. State of Wyoming acquired a new position in shares of Infosys in the 1st quarter valued at $134,000. Finally, Aureus Asset Management LLC bought a new position in shares of Infosys during the 1st quarter worth about $142,000. 16.20% of the stock is currently owned by institutional investors and hedge funds.

Infosys Stock Down 4.5%

Shares of NYSE:INFY opened at $11.17 on Wednesday. The firm has a market cap of $45.23 billion, a P/E ratio of 13.79, a P/E/G ratio of 2.73 and a beta of 0.87. The company's 50-day moving average price is $11.73 and its two-hundred day moving average price is $12.50. Infosys Ltd. has a 12 month low of $10.30 and a 12 month high of $30.00.

Infosys (NYSE:INFY - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). The firm had revenue of $4.99 billion for the quarter, compared to analyst estimates of $5.08 billion. Infosys had a return on equity of 33.91% and a net margin of 16.38%. As a group, equities analysts predict that Infosys Ltd. will post 0.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on INFY shares. Weiss Ratings lowered shares of Infosys from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. Wells Fargo & Company set a $11.00 price target on shares of Infosys and gave the stock an "equal weight" rating in a research note on Friday, June 26th. HSBC set a $11.47 price target on shares of Infosys and gave the stock a "hold" rating in a research note on Friday, July 24th. BMO Capital Markets reiterated a "market perform" rating and issued a $12.00 price objective (down from $13.00) on shares of Infosys in a research note on Friday, July 24th. Finally, TD Cowen reissued a "hold" rating and issued a $9.00 target price (down from $10.00) on shares of Infosys in a report on Friday, July 24th. Nine analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $11.59.

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. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.

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