Infosys Limited (NYSE:INFY) Short Interest Up 7.9% in April

Infosys Limited (NYSE:INFY) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 52,110,000 shares, an increase of 7.9% from the March 31st total of 48,280,000 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily volume of 9,430,000 shares, the days-to-cover ratio is presently 5.5 days.

Infosys Price Performance

NYSE INFY opened at $16.76 on Thursday. Infosys has a 1 year low of $14.98 and a 1 year high of $20.74. The stock has a market capitalization of $69.37 billion, a PE ratio of 22.05, a PEG ratio of 2.24 and a beta of 0.95. The business’s 50-day moving average is $18.29 and its 200 day moving average is $18.32.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.49 billion. Infosys had a return on equity of 32.33% and a net margin of 17.06%. During the same period last year, the company earned $0.18 EPS. As a group, equities research analysts anticipate that Infosys will post 0.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in INFY. PDS Planning Inc lifted its holdings in Infosys by 5.1% in the first quarter. PDS Planning Inc now owns 30,989 shares of the technology company’s stock worth $556,000 after buying an additional 1,491 shares during the period. Capstone Investment Advisors LLC purchased a new position in shares of Infosys in the 1st quarter valued at approximately $862,000. Janney Montgomery Scott LLC boosted its position in shares of Infosys by 6.3% during the first quarter. Janney Montgomery Scott LLC now owns 654,524 shares of the technology company’s stock valued at $11,736,000 after purchasing an additional 38,574 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Infosys by 49.3% in the first quarter. BNP Paribas Financial Markets now owns 3,741,065 shares of the technology company’s stock worth $67,077,000 after purchasing an additional 1,235,140 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in Infosys by 5.4% in the first quarter. Sequoia Financial Advisors LLC now owns 67,322 shares of the technology company’s stock worth $1,207,000 after purchasing an additional 3,429 shares in the last quarter. 10.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on INFY shares. JPMorgan Chase & Co. raised shares of Infosys from a “neutral” rating to an “overweight” rating in a report on Wednesday, January 3rd. BNP Paribas initiated coverage on shares of Infosys in a research note on Wednesday, January 17th. They issued an “outperform” rating and a $24.00 price objective for the company. StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. UBS Group upgraded Infosys from a “neutral” rating to a “buy” rating in a report on Wednesday, January 3rd. Finally, BMO Capital Markets dropped their target price on Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, April 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.