Infosys Limited (NYSE:INFY) Short Interest Down 10.5% in August

Infosys Limited (NYSE:INFY) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 81,180,000 shares, a drop of 10.5% from the August 15th total of 90,700,000 shares. Based on an average trading volume of 9,520,000 shares, the days-to-cover ratio is currently 8.5 days. Approximately 2.0% of the company’s shares are sold short.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.27.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in INFY. Canada Pension Plan Investment Board increased its position in Infosys by 37.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock valued at $401,826,000 after purchasing an additional 5,862,144 shares during the period. Millennium Management LLC boosted its holdings in shares of Infosys by 67.9% in the 2nd 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. Acadian Asset Management LLC boosted 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 in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Infosys by 539.8% in the 4th quarter. Wellington Management Group LLP now owns 2,010,636 shares of the technology company’s stock valued at $36,955,000 after buying an additional 1,696,378 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Infosys by 46.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company’s stock valued at $97,467,000 after buying an additional 1,648,650 shares in the last quarter. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Infosys Price Performance

NYSE INFY traded down $0.49 during trading on Wednesday, reaching $22.48. 7,050,970 shares of the company’s stock traded hands, compared to its average volume of 9,372,020. The firm has a market cap of $93.07 billion, a price-to-earnings ratio of 30.22, a price-to-earnings-growth ratio of 3.63 and a beta of 0.99. The company’s 50 day simple moving average is $22.06 and its two-hundred day simple moving average is $19.34. Infosys has a 12-month low of $16.04 and a 12-month high of $23.48.

Infosys (NYSE:INFY) last posted its earnings results on Thursday, July 18th. The technology company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.67 billion. Infosys had a net margin of 17.18% and a return on equity of 32.01%. During the same quarter last year, the firm posted $0.17 EPS. Research analysts expect that Infosys will post 0.75 earnings per share for the current fiscal year.

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.