Infosys Limited (NYSE:INFY) Short Interest Update

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on INFY. BMO Capital Markets lowered their price target on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, April 19th. Susquehanna decreased their price objective on shares of Infosys from $15.00 to $14.00 and set a “negative” rating for the company in a report on Friday, April 19th. StockNews.com upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Saturday. Bank of America upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a report on Tuesday, April 9th. Finally, Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $19.27.

Infosys Price Performance

INFY stock traded down $0.49 during trading on Wednesday, hitting $22.12. 18,250,395 shares of the stock traded hands, compared to its average volume of 9,876,324. Infosys has a 1 year low of $16.04 and a 1 year high of $22.94. The firm’s 50 day moving average is $19.01 and its two-hundred day moving average is $18.77. The stock has a market cap of $91.58 billion, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 3.58 and a beta of 0.98.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.67 billion. Infosys had a net margin of 17.18% and a return on equity of 32.01%. During the same period in the prior year, the firm posted $0.17 EPS. As a group, analysts anticipate that Infosys will post 0.75 EPS for the current fiscal year.

Infosys Cuts Dividend

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

Hedge Funds Weigh In On Infosys

Several hedge funds and other institutional investors have recently bought and sold shares of INFY. Buckingham Capital Management Inc. lifted its stake in shares of Infosys by 0.6% in the 4th quarter. Buckingham Capital Management Inc. now owns 87,324 shares of the technology company’s stock worth $1,605,000 after purchasing an additional 499 shares during the period. GAMMA Investing LLC lifted its stake in shares of Infosys by 22.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after purchasing an additional 541 shares during the period. Somerset Trust Co lifted its stake in shares of Infosys by 4.2% in the 2nd quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock worth $282,000 after purchasing an additional 611 shares during the period. Drive Wealth Management LLC lifted its stake in shares of Infosys by 6.1% in the 4th quarter. Drive Wealth Management LLC now owns 12,354 shares of the technology company’s stock worth $227,000 after purchasing an additional 707 shares during the period. Finally, Seed Wealth Management Inc. lifted its stake in shares of Infosys by 5.6% in the 2nd quarter. Seed Wealth Management Inc. now owns 18,260 shares of the technology company’s stock worth $340,000 after purchasing an additional 970 shares during the period. Institutional investors own 10.89% of the company’s stock.

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.