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

Infosys Limited (NYSE:INFY) saw a significant increase in short interest in April. As of April 15th, there was short interest totalling 52,110,000 shares, an increase of 7.9% from the March 31st total of 48,280,000 shares. Approximately 1.3% of the shares of the stock are sold short. Based on an average daily volume of 9,430,000 shares, the days-to-cover ratio is currently 5.5 days.

Institutional Investors Weigh In On Infosys

Hedge funds have recently made changes to their positions in the company. PDS Planning Inc increased its stake in shares of Infosys by 5.1% during the first quarter. PDS Planning Inc now owns 30,989 shares of the technology company’s stock valued at $556,000 after buying an additional 1,491 shares during the period. Capstone Investment Advisors LLC purchased a new position in Infosys during the 1st quarter valued at about $862,000. Janney Montgomery Scott LLC raised its holdings in shares of Infosys by 6.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 654,524 shares of the technology company’s stock valued at $11,736,000 after purchasing an additional 38,574 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Infosys by 49.3% in the 1st quarter. BNP Paribas Financial Markets now owns 3,741,065 shares of the technology company’s stock worth $67,077,000 after purchasing an additional 1,235,140 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of Infosys by 5.4% during the first quarter. Sequoia Financial Advisors LLC now owns 67,322 shares of the technology company’s stock valued at $1,207,000 after purchasing an additional 3,429 shares in the last quarter. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

Infosys Trading Up 0.3 %

NYSE INFY opened at $16.76 on Thursday. Infosys has a 12 month low of $14.98 and a 12 month high of $20.74. The company’s 50-day moving average price is $18.29 and its 200-day moving average price is $18.32. The stock has a market cap of $69.37 billion, a PE ratio of 22.05, a PEG ratio of 2.24 and a beta of 0.95.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. Infosys had a net margin of 17.06% and a return on equity of 32.33%. The firm had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the previous year, the firm posted $0.18 earnings per share. As a group, sell-side analysts forecast that Infosys will post 0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Guggenheim began coverage on shares of Infosys in a report on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 price target for the company. Bank of America raised Infosys from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 9th. BMO Capital Markets lowered their price target on Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a research report on Friday, April 19th. Wedbush reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Infosys in a research note on Wednesday, March 13th. Finally, JPMorgan Chase & Co. raised shares of Infosys from a “neutral” rating to an “overweight” rating in a research note on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Infosys has a consensus rating of “Hold” and a consensus price target of $19.27.

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.