Infosys (NYSE:INFY) Sees Strong Trading Volume – Should You Buy?

Infosys Limited (NYSE:INFY) saw unusually-strong trading volume on Thursday . Approximately 3,031,081 shares changed hands during mid-day trading, a decline of 57% from the previous session’s volume of 7,006,041 shares.The stock last traded at $21.90 and had previously closed at $22.89.

Wall Street Analysts Forecast Growth

INFY has been the topic of a number of analyst reports. BMO Capital Markets lifted their price objective on shares of Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Guggenheim reissued a “neutral” rating on shares of Infosys in a research report on Friday. Hsbc Global Res upgraded Infosys from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Finally, HSBC upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.22.

Infosys Price Performance

The stock’s fifty day simple moving average is $22.54 and its 200-day simple moving average is $22.15. The stock has a market cap of $87.65 billion, a P/E ratio of 27.13, a PEG ratio of 3.71 and a beta of 1.00.

Infosys (NYSE:INFY) last released its quarterly earnings data on Thursday, January 16th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. During the same quarter last year, the company posted $0.18 earnings per share. Analysts forecast that Infosys Limited will post 0.74 EPS for the current year.

Infosys Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were paid a dividend of $0.2126 per share. The ex-dividend date was Tuesday, October 29th. This represents a yield of 1.1%. This is an increase from Infosys’s previous semi-annual dividend of $0.20. Infosys’s payout ratio is presently 53.85%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of INFY. Robeco Institutional Asset Management B.V. boosted its stake in Infosys by 68.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock valued at $542,051,000 after purchasing an additional 9,923,744 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Infosys by 37.3% during the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock valued at $401,826,000 after buying an additional 5,862,144 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Infosys by 6,071.1% during the third quarter. Victory Capital Management Inc. now owns 4,739,830 shares of the technology company’s stock worth $105,556,000 after acquiring an additional 4,663,023 shares during the period. Millennium Management LLC raised its position in Infosys by 67.9% in the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock worth $141,532,000 after acquiring an additional 3,074,432 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Infosys in the 3rd quarter valued at about $36,039,000. Institutional investors own 16.20% of the company’s stock.

Infosys Company Profile

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.