Stock Traders Purchase Large Volume of Infosys Call Options (NYSE:INFY)

Infosys Limited (NYSE:INFY) was the target of unusually large options trading on Monday. Stock traders purchased 4,580 call options on the stock. This represents an increase of approximately 82% compared to the typical daily volume of 2,521 call options.

Infosys Price Performance

NYSE INFY traded up $0.12 on Monday, reaching $18.74. The company had a trading volume of 3,645,349 shares, compared to its average volume of 9,338,920. The firm has a market cap of $77.58 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 3.43 and a beta of 0.98. Infosys has a fifty-two week low of $15.33 and a fifty-two week high of $20.74. The business has a 50 day moving average of $17.38 and a two-hundred day moving average of $18.43.

Infosys (NYSE:INFY) last posted its quarterly earnings data on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.49 billion. Infosys had a return on equity of 32.33% and a net margin of 17.06%. During the same period in the prior year, the business posted $0.18 earnings per share. As a group, research analysts predict that Infosys will post 0.75 earnings per share for the current fiscal year.

Infosys Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 31st were issued a dividend of $0.2035 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a yield of 1.4%. Infosys’s payout ratio is currently 38.16%.

Hedge Funds Weigh In On Infosys

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in shares of Infosys during the 4th quarter worth approximately $36,000. Planned Solutions Inc. bought a new stake in shares of Infosys in the 4th quarter worth approximately $50,000. Jones Financial Companies Lllp bought a new stake in shares of Infosys in the 4th quarter worth approximately $56,000. EverSource Wealth Advisors LLC raised its holdings in shares of Infosys by 113.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,130 shares of the technology company’s stock worth $58,000 after purchasing an additional 1,663 shares during the period. Finally, Hennessy Advisors Inc. bought a new stake in shares of Infosys in the 4th quarter worth approximately $123,000. Institutional investors own 10.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Susquehanna lowered their price target on Infosys from $15.00 to $14.00 and set a “negative” rating on the stock in a research report on Friday, April 19th. HSBC reissued a “hold” rating and set a $20.10 price target on shares of Infosys in a research report on Friday, April 19th. StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Guggenheim assumed coverage on Infosys in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 target price on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Infosys in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.27.

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.