Infosys Limited (NYSE:INFY) Short Interest Up 11.1% in October

Infosys Limited (NYSE:INFY) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 74,940,000 shares, an increase of 11.1% from the October 15th total of 67,430,000 shares. Currently, 1.8% of the company’s shares are short sold. Based on an average daily trading volume, of 7,940,000 shares, the days-to-cover ratio is presently 9.4 days.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Investec lowered Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. StockNews.com upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, BMO Capital Markets increased their target price on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $20.85.

Institutional Investors Weigh In On Infosys

A number of institutional investors have recently added to or reduced their stakes in INFY. Mizuho Securities Co. Ltd. bought a new position in Infosys during the third quarter valued at about $33,000. Hilltop National Bank grew its holdings in shares of Infosys by 50.8% in the second quarter. Hilltop National Bank now owns 2,979 shares of the technology company’s stock worth $55,000 after purchasing an additional 1,004 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Infosys by 22.6% in 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 last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Infosys by 126.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,029 shares of the technology company’s stock valued at $56,000 after buying an additional 1,693 shares during the period. Finally, Ridgewood Investments LLC purchased a new position in shares of Infosys in the 2nd quarter worth about $162,000. 10.89% of the stock is owned by institutional investors.

Infosys Price Performance

INFY traded up $0.08 during trading hours on Monday, reaching $21.61. 4,816,443 shares of the stock traded hands, compared to its average volume of 9,226,959. The company has a market cap of $89.50 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 3.48 and a beta of 1.00. Infosys has a fifty-two week low of $16.04 and a fifty-two week high of $23.48. The firm’s fifty day simple moving average is $22.31 and its two-hundred day simple moving average is $20.64.

Infosys (NYSE:INFY) last posted its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. Infosys had a net margin of 17.15% and a return on equity of 31.43%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the firm posted $0.18 EPS. On average, research analysts predict that Infosys will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

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

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.