Infosys Limited (NYSE:INFY) Short Interest Up 11.1% in October

Infosys Limited (NYSE:INFY) saw a significant growth in short interest in the month of 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. Based on an average trading volume of 7,940,000 shares, the short-interest ratio is currently 9.4 days. Currently, 1.8% of the shares of the stock are short sold.

Analyst Ratings Changes

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

Infosys Stock Performance

Shares of INFY stock traded up $0.08 on Monday, hitting $21.61. 4,816,443 shares of the stock traded hands, compared to its average volume of 9,226,959. Infosys has a twelve month low of $16.04 and a twelve month high of $23.48. The stock has a market capitalization of $89.50 billion, a PE ratio of 27.71, a PEG ratio of 3.48 and a beta of 1.00. The firm’s 50-day moving average price is $22.31 and its two-hundred day moving average price is $20.64.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, meeting the consensus estimate 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 in the prior year, the company posted $0.18 EPS. On average, equities research analysts anticipate that Infosys will post 0.75 EPS for the current fiscal year.

Infosys Increases Dividend

The firm also recently announced 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 is a boost from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date was Tuesday, October 29th. This represents a yield of 1.1%. Infosys’s dividend payout ratio (DPR) is 53.85%.

Hedge Funds Weigh In On Infosys

Large investors have recently modified their holdings of the business. Robeco Institutional Asset Management B.V. boosted 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 worth $542,051,000 after purchasing an additional 9,923,744 shares during the period. Canada Pension Plan Investment Board lifted its stake in 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 worth $401,826,000 after purchasing an additional 5,862,144 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Infosys by 6,071.1% during the third quarter. Victory Capital Management Inc. now owns 4,739,830 shares of the technology company’s stock worth $105,556,000 after buying an additional 4,663,023 shares during the period. Millennium Management LLC grew its stake 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 valued at $141,532,000 after buying an additional 3,074,432 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Infosys by 106.1% in the 1st quarter. Acadian Asset Management LLC now owns 4,839,764 shares of the technology company’s stock valued at $86,764,000 after buying an additional 2,491,403 shares during the period. Institutional investors and hedge funds own 10.89% of the company’s stock.

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.