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

Infosys Limited (NYSE:INFY) was the recipient of a significant 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. Based on an average daily volume of 8,050,000 shares, the short-interest ratio is presently 10.9 days. Currently, 2.1% of the shares of the company are sold short.

Infosys Stock Performance

Shares of NYSE:INFY traded down $0.08 during midday trading on Tuesday, hitting $22.12. The company’s stock had a trading volume of 8,215,671 shares, compared to its average volume of 7,491,084. The business’s 50 day simple moving average is $22.23 and its 200 day simple moving average is $20.99. The company has a market cap of $91.62 billion, a P/E ratio of 28.36, a price-to-earnings-growth ratio of 3.58 and a beta of 1.00. Infosys has a 12-month low of $16.04 and a 12-month 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 for the quarter, hitting the consensus estimate of $0.19. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a net margin of 17.15% and a return on equity of 31.43%. During the same period last year, the firm posted $0.18 earnings per share. On average, sell-side analysts predict that Infosys will post 0.75 earnings per share for the current fiscal year.

Infosys Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, October 29th. Stockholders of record on Friday, January 1st were paid a $0.2126 dividend. This is an increase from Infosys’s previous semi-annual dividend of $0.20. This represents a dividend yield of 1.1%. The ex-dividend date was Tuesday, October 29th. Infosys’s dividend payout ratio (DPR) is currently 53.85%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. BMO Capital Markets raised their target price on shares of Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, Investec cut shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Infosys presently has an average rating of “Hold” and an average price target of $20.85.

Hedge Funds Weigh In On Infosys

Hedge funds and other institutional investors have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV raised its stake in Infosys by 2.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock worth $328,000 after purchasing an additional 505 shares during the period. Canopy Partners LLC raised its stake in Infosys by 3.1% during the third quarter. Canopy Partners LLC now owns 17,129 shares of the technology company’s stock worth $381,000 after purchasing an additional 522 shares during the period. Outlook Wealth Advisors LLC raised its stake in Infosys by 3.0% during the third quarter. Outlook Wealth Advisors LLC now owns 17,897 shares of the technology company’s stock worth $399,000 after purchasing an additional 526 shares during the period. GAMMA Investing LLC raised its stake in Infosys by 22.6% during the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock worth $55,000 after purchasing an additional 541 shares during the period. Finally, D Orazio & Associates Inc. raised its stake in Infosys by 4.1% during the second quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock worth $274,000 after purchasing an additional 584 shares during the period. 10.89% of the stock is owned by hedge funds and other institutional investors.

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.