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

Infosys Limited (NYSE:INFY) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 67,430,000 shares, a decline of 12.7% from the September 30th total of 77,260,000 shares. Approximately 1.6% of the company’s shares are sold short. Based on an average daily volume of 8,280,000 shares, the days-to-cover ratio is currently 8.1 days.

Infosys Price Performance

Shares of NYSE INFY traded down $0.22 during mid-day trading on Thursday, hitting $20.90. The company had a trading volume of 8,615,138 shares, compared to its average volume of 9,265,200. The company has a market capitalization of $86.52 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 3.57 and a beta of 0.99. The business’s 50-day simple moving average is $22.64 and its 200 day simple moving average is $20.21. 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, meeting analysts’ consensus estimates of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the company earned $0.18 EPS. On average, analysts expect that Infosys will post 0.75 EPS for the current year.

Infosys Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, October 29th. Shareholders of record on Friday, January 1st were given a $0.2126 dividend. The ex-dividend date was Tuesday, October 29th. This is an increase from Infosys’s previous semi-annual dividend of $0.20. This represents a dividend yield of 1.1%. Infosys’s dividend payout ratio is currently 55.26%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Infosys

Hedge funds and other institutional investors have recently modified their holdings of the company. Hilltop National Bank increased its holdings in Infosys by 50.8% in the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock valued at $55,000 after buying an additional 1,004 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Infosys by 22.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after acquiring an additional 541 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Infosys by 126.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock worth $56,000 after purchasing an additional 1,693 shares during the last quarter. Ridgewood Investments LLC acquired a new position in Infosys in the second quarter valued at approximately $162,000. Finally, Bank Pictet & Cie Europe AG purchased a new position in Infosys in the second quarter valued at approximately $194,000. 10.89% of the stock is currently owned by institutional investors and hedge funds.

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.