Infosys Limited (NYSE:INFY – Get Free Report) 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.
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Institutional Inflows and Outflows
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 – Get Free Report) 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.
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