Infosys Limited (NYSE:INFY) Sees Large Decline in Short Interest

Infosys Limited (NYSE:INFY) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 81,180,000 shares, a drop of 10.5% from the August 15th total of 90,700,000 shares. Currently, 2.0% of the company’s shares are short sold. Based on an average daily volume of 9,520,000 shares, the short-interest ratio is presently 8.5 days.

Infosys Stock Down 0.9 %

NYSE:INFY traded down $0.22 during trading hours on Tuesday, reaching $22.97. The company had a trading volume of 10,312,910 shares, compared to its average volume of 9,384,986. Infosys has a twelve month low of $16.04 and a twelve month high of $23.48. The firm has a market cap of $95.09 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 3.63 and a beta of 0.99. The business’s 50-day simple moving average is $21.99 and its two-hundred day simple moving average is $19.31.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on INFY. StockNews.com raised Infosys from a “hold” rating to a “buy” rating in a research note on Friday. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Infosys presently has an average rating of “Moderate Buy” and an average target price of $19.27.

Institutional Investors Weigh In On Infosys

Several hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Infosys by 33.0% in the 1st quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock worth $43,000 after acquiring an additional 593 shares during the last quarter. Hilltop National Bank raised its stake in shares of Infosys by 50.8% in the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after purchasing an additional 1,004 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Infosys by 126.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock valued at $56,000 after buying an additional 1,693 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Infosys during the fourth quarter valued at approximately $56,000. Finally, EverSource Wealth Advisors LLC raised its position in Infosys by 113.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,130 shares of the technology company’s stock valued at $58,000 after buying an additional 1,663 shares during the last quarter. Institutional investors own 10.89% of the company’s stock.

Infosys Company Profile

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.