Infosys Limited (NYSE:INFY) Short Interest Down 12.7% in October

Infosys Limited (NYSE:INFY) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 67,430,000 shares, a decrease of 12.7% from the September 30th total of 77,260,000 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average daily trading volume, of 8,280,000 shares, the days-to-cover ratio is currently 8.1 days.

Institutional Investors Weigh In On Infosys

Large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in shares of Infosys by 6.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,857,531 shares of the technology company’s stock valued at $33,306,000 after purchasing an additional 112,790 shares during the last quarter. Naviter Wealth LLC increased its position in Infosys by 13.5% during the 1st quarter. Naviter Wealth LLC now owns 75,779 shares of the technology company’s stock valued at $1,359,000 after purchasing an additional 9,027 shares during the period. Sivia Capital Partners LLC lifted its holdings in Infosys by 8.9% during the first quarter. Sivia Capital Partners LLC now owns 24,571 shares of the technology company’s stock worth $441,000 after buying an additional 2,008 shares during the period. Marshall Financial Group LLC boosted its position in Infosys by 8.8% during the first quarter. Marshall Financial Group LLC now owns 57,080 shares of the technology company’s stock valued at $1,023,000 after purchasing an additional 4,602 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Infosys by 58.3% in the 1st quarter. Principal Financial Group Inc. now owns 534,352 shares of the technology company’s stock worth $9,581,000 after buying an additional 196,755 shares during the last quarter. 10.89% of the stock is owned by institutional investors.

Infosys Trading Down 1.4 %

INFY stock traded down $0.31 on Tuesday, hitting $21.76. The company had a trading volume of 8,789,377 shares, compared to its average volume of 9,272,036. Infosys has a 12-month low of $16.04 and a 12-month high of $23.48. The stock has a market cap of $90.09 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 3.57 and a beta of 0.99. The stock’s 50-day simple moving average is $22.71 and its 200 day simple moving average is $20.18.

Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, October 17th. 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%. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the previous year, the company posted $0.18 EPS. Research analysts forecast that Infosys will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st will be issued a dividend of $0.2126 per share. This is a positive change from Infosys’s previous semi-annual dividend of $0.20. This represents a yield of 1.1%. The ex-dividend date is Tuesday, October 29th. Infosys’s dividend payout ratio (DPR) is 55.26%.

Analyst Ratings Changes

A number of research firms have issued reports on INFY. Macquarie raised Infosys from an “underperform” rating to a “neutral” rating in a research report on Friday, July 19th. BMO Capital Markets raised their price target on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, Investec downgraded Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.85.

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.