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

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

Institutional Investors Weigh In On Infosys

Several hedge funds have recently modified their holdings of the stock. Baader Bank Aktiengesellschaft acquired a new position in Infosys during the second quarter worth $529,000. BNP Paribas acquired a new stake in shares of Infosys in the first quarter valued at about $1,169,000. Capstone Investment Advisors LLC acquired a new position in Infosys during the first quarter worth about $862,000. Allspring Global Investments Holdings LLC lifted 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 acquiring an additional 112,790 shares during the period. Finally, US Bancorp DE boosted its stake in shares of Infosys by 36.5% during the 1st quarter. US Bancorp DE now owns 188,338 shares of the technology company’s stock worth $3,377,000 after acquiring an additional 50,399 shares in the last quarter. 10.89% of the stock is owned by institutional investors and hedge funds.

Infosys Price Performance

Shares of NYSE INFY traded down $0.31 during midday trading on Tuesday, hitting $21.76. 8,789,377 shares of the company’s stock were exchanged, compared to its average volume of 9,272,036. The company has a market cap of $90.09 billion, a PE ratio of 28.68, a P/E/G ratio of 3.57 and a beta of 0.99. Infosys has a twelve month low of $16.04 and a twelve month high of $23.48. The firm’s fifty day simple moving average is $22.71 and its 200-day simple moving average is $20.18.

Infosys (NYSE:INFY) last posted its earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Infosys had a return on equity of 31.43% and a net margin of 17.15%. During the same quarter in the previous year, the firm earned $0.18 earnings per share. Equities analysts anticipate that Infosys will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

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

Analyst Ratings Changes

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

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.