Infosys Limited (NYSE:INFY) Short Interest Update

Infosys Limited (NYSE:INFY) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 92,890,000 shares, an increase of 13.7% from the June 30th total of 81,720,000 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average trading volume of 10,060,000 shares, the days-to-cover ratio is currently 9.2 days.

Analyst Ratings Changes

A number of equities analysts have issued reports on INFY shares. Susquehanna reduced their price objective on shares of Infosys from $15.00 to $14.00 and set a “negative” rating on the stock in a research note on Friday, April 19th. Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. HSBC reissued a “hold” rating and set a $20.10 price target on shares of Infosys in a research report on Friday, April 19th. StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, BMO Capital Markets reduced their price target on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Infosys currently has a consensus rating of “Hold” and a consensus target price of $19.27.

Institutional Investors Weigh In On Infosys

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in Infosys by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,360,152 shares of the technology company’s stock valued at $98,547,000 after buying an additional 209,675 shares during the last quarter. BNP Paribas bought a new position in shares of Infosys in the 1st quarter valued at about $1,169,000. Vanguard Group Inc. grew its position in shares of Infosys by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock valued at $139,327,000 after acquiring an additional 180,888 shares during the period. Alberta Investment Management Corp grew its position in shares of Infosys by 118.6% in the 4th quarter. Alberta Investment Management Corp now owns 1,328,956 shares of the technology company’s stock valued at $24,426,000 after acquiring an additional 720,885 shares during the period. Finally, International Assets Investment Management LLC bought a new position in shares of Infosys in the 4th quarter valued at about $878,000. 10.89% of the stock is currently owned by institutional investors and hedge funds.

Infosys Stock Down 2.2 %

Shares of NYSE:INFY traded down $0.49 during midday trading on Wednesday, reaching $22.12. 18,250,395 shares of the company were exchanged, compared to its average volume of 9,876,324. Infosys has a fifty-two week low of $16.04 and a fifty-two week high of $22.94. The stock has a fifty day simple moving average of $19.01 and a two-hundred day simple moving average of $18.77. The firm has a market cap of $91.58 billion, a PE ratio of 29.22, a P/E/G ratio of 3.58 and a beta of 0.98.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. Infosys had a net margin of 17.18% and a return on equity of 32.01%. The business had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period last year, the business posted $0.17 earnings per share. As a group, analysts forecast that Infosys will post 0.75 earnings per share for the current year.

Infosys Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 31st were paid a $0.2035 dividend. The ex-dividend date was Friday, May 31st. This represents a yield of 1.4%. Infosys’s payout ratio is currently 38.16%.

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 digital marketing and digital workplace, digital commerce, digital experience and interactions, metaverse, data analytics and AI, applied AI, generative AI, sustainability, blockchain, engineering, Internet of Things, enterprise agile DevOps, application modernization, cloud, digital process automation, digital supply chain, Microsoft business application and cloud business, service experience transformation, energy transition, cyber security, and quality engineering solutions; Oracle, SAP, and Saleforce solutions; API economy and microservices; and Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies.