Short Interest in Infosys Limited (NYSE:INFY) Expands By 11.1%

Infosys Limited (NYSE:INFY) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 74,940,000 shares, a growth of 11.1% from the October 15th total of 67,430,000 shares. Currently, 1.8% of the company’s stock are sold short. Based on an average daily trading volume, of 7,940,000 shares, the days-to-cover ratio is presently 9.4 days.

Infosys Stock Up 0.4 %

Shares of INFY traded up $0.08 during mid-day trading on Monday, hitting $21.61. 4,816,443 shares of the company traded hands, compared to its average volume of 9,226,959. The business has a 50 day moving average of $22.31 and a 200 day moving average of $20.64. The company has a market capitalization of $89.50 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 3.48 and a beta of 1.00. Infosys has a 1-year low of $16.04 and a 1-year high of $23.48.

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

Infosys Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were paid a dividend of $0.2126 per share. This represents a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, October 29th. This is an increase from Infosys’s previous semi-annual dividend of $0.20. Infosys’s payout ratio is presently 53.85%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Investec cut Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Finally, BMO Capital Markets upped their price objective on Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Infosys has a consensus rating of “Hold” and an average price target of $20.85.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Rehmann Capital Advisory Group acquired a new position in Infosys in the 3rd quarter worth approximately $300,000. M&T Bank Corp boosted its holdings in shares of Infosys by 247.3% in the 3rd quarter. M&T Bank Corp now owns 94,907 shares of the technology company’s stock valued at $2,114,000 after acquiring an additional 67,580 shares during the last quarter. Barclays PLC increased its stake in shares of Infosys by 11.8% in the third quarter. Barclays PLC now owns 2,523,605 shares of the technology company’s stock worth $56,200,000 after acquiring an additional 266,902 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Infosys during the third quarter valued at $36,039,000. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of Infosys by 22.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 670,907 shares of the technology company’s stock valued at $14,941,000 after buying an additional 123,083 shares during the period. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

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.