Wellington Management Group LLP increased its stake in shares of Infosys Ltd. (NYSE:INFY) by 671.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,610,371 shares of the company’s stock after buying an additional 1,401,692 shares during the period. Wellington Management Group LLP owned approximately 0.07% of Infosys worth $30,630,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Eqis Capital Management Inc. raised its stake in Infosys by 0.8% in the first quarter. Eqis Capital Management Inc. now owns 79,271 shares of the company’s stock worth $1,508,000 after buying an additional 628 shares during the period. BNP Paribas Arbitrage SA raised its stake in Infosys by 0.4% in the fourth quarter. BNP Paribas Arbitrage SA now owns 822,566 shares of the company’s stock worth $13,778,000 after buying an additional 3,507 shares during the period. Pictet Asset Management Ltd. raised its stake in Infosys by 1.4% in the first quarter. Pictet Asset Management Ltd. now owns 257,425 shares of the company’s stock worth $4,330,000 after buying an additional 3,620 shares during the period. RPg Family Wealth Advisory LLC raised its stake in Infosys by 2.4% in the first quarter. RPg Family Wealth Advisory LLC now owns 156,250 shares of the company’s stock worth $2,972,000 after buying an additional 3,686 shares during the period. Finally, Comerica Bank raised its stake in Infosys by 3.8% in the fourth quarter. Comerica Bank now owns 149,451 shares of the company’s stock worth $2,417,000 after buying an additional 5,529 shares during the period.
Infosys Ltd. (NYSE:INFY) traded down 0.66% during mid-day trading on Thursday, reaching $16.59. 2,979,627 shares of the company’s stock traded hands. The stock has a 50 day moving average of $17.77 and a 200 day moving average of $18.05. Infosys Ltd. has a 12-month low of $15.72 and a 12-month high of $20.47. The company has a market cap of $37.92 billion and a P/E ratio of 18.23.
A number of equities research analysts recently commented on the company. Wells Fargo & Co. restated a “hold” rating on shares of Infosys in a research report on Sunday, April 17th. Nomura lowered Infosys from a “buy” rating to a “neutral” rating in a research report on Monday, July 18th. Zacks Investment Research lowered Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Robert W. Baird restated a “hold” rating on shares of Infosys in a research report on Tuesday, April 12th. Finally, BMO Capital Markets restated a “hold” rating on shares of Infosys in a research report on Monday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Infosys currently has an average rating of “Hold” and an average target price of $18.36.
Infosys Limited is engaged in consulting, technology, outsourcing and next-generation services. The Company, along with its subsidiaries, provides business information technology services comprising application development and maintenance, independent validation, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking solution, and offerings in the areas of Analytics, Cloud and Digital Transformation.
