Infosys Limited (NYSE:INFY) Short Interest Up 15.2% in August

Infosys Limited (NYSE:INFY) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 45,330,000 shares, an increase of 15.2% from the August 15th total of 39,360,000 shares. Approximately 1.1% of the shares of the company are short sold. Based on an average daily volume of 9,360,000 shares, the short-interest ratio is currently 4.8 days.

Infosys Stock Performance

INFY traded up $0.03 on Tuesday, reaching $17.79. The company had a trading volume of 3,141,851 shares, compared to its average volume of 9,489,390. Infosys has a 52-week low of $14.71 and a 52-week high of $20.57. The company has a market cap of $73.62 billion, a price-to-earnings ratio of 24.69, a P/E/G ratio of 2.49 and a beta of 0.97. The business has a 50 day simple moving average of $17.05 and a 200 day simple moving average of $16.43.

Infosys (NYSE:INFY) last posted its quarterly earnings data on Thursday, July 20th. The technology company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.55 billion. Infosys had a return on equity of 32.39% and a net margin of 16.41%. As a group, equities research analysts predict that Infosys will post 0.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Infosys

A number of hedge funds have recently made changes to their positions in INFY. FWL Investment Management LLC bought a new position in shares of Infosys in the fourth quarter worth approximately $27,000. EverSource Wealth Advisors LLC raised its position in Infosys by 75.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,902 shares of the technology company’s stock valued at $34,000 after purchasing an additional 819 shares during the last quarter. WealthPLAN Partners LLC purchased a new stake in Infosys in the 1st quarter worth approximately $35,000. Psagot Value Holdings Ltd. Israel bought a new stake in shares of Infosys in the 1st quarter worth approximately $36,000. Finally, Grey Fox Wealth Advisors LLC purchased a new position in shares of Infosys during the fourth quarter valued at approximately $37,000. 11.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wedbush reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Infosys in a report on Monday. The Goldman Sachs Group started coverage on shares of Infosys in a report on Tuesday, August 22nd. They issued a “buy” rating for the company. JPMorgan Chase & Co. began coverage on shares of Infosys in a report on Tuesday, May 23rd. They set an “underweight” rating and a $14.00 target price on the stock. StockNews.com initiated coverage on Infosys in a report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Nomura upgraded Infosys from a “reduce” rating to a “neutral” rating in a research note on Friday, September 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Infosys has an average rating of “Hold” and an average target price of $18.00.

About Infosys

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 management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.