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

Infosys Limited (NYSE:INFY) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 87,820,000 shares, an increase of 17.2% from the October 31st total of 74,940,000 shares. Currently, 2.1% of the company’s shares are short sold. Based on an average daily volume of 8,050,000 shares, the short-interest ratio is presently 10.9 days.

Institutional Trading of Infosys

Several hedge funds have recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. raised its position in shares of 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 buying an additional 9,923,744 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of 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 purchasing an additional 5,862,144 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Infosys by 9.7% during the third quarter. Fisher Asset Management LLC now owns 14,415,018 shares of the technology company’s stock valued at $321,022,000 after purchasing an additional 1,271,890 shares in the last quarter. Franklin Resources Inc. lifted its position in Infosys by 2.9% during the third quarter. Franklin Resources Inc. now owns 11,272,051 shares of the technology company’s stock valued at $263,315,000 after acquiring an additional 322,648 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of 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 buying an additional 3,074,432 shares during the last quarter. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on INFY shares. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Investec downgraded Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. BMO Capital Markets boosted their target price on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Two 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.85.

Infosys Price Performance

NYSE INFY traded down $0.08 during mid-day trading on Tuesday, reaching $22.12. The stock had a trading volume of 8,215,671 shares, compared to its average volume of 7,491,084. Infosys has a 1 year low of $16.04 and a 1 year high of $23.48. The stock has a market cap of $91.62 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 3.58 and a beta of 1.00. The company has a fifty day moving average price of $22.23 and a 200 day moving average price of $20.99.

Infosys (NYSE:INFY) last issued its quarterly earnings data 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 net margin of 17.15% and a return on equity of 31.43%. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the firm posted $0.18 EPS. As a group, equities research analysts expect that Infosys will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were issued a $0.2126 dividend. 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 dividend payout ratio is currently 53.85%.

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.