Short Interest in Infosys Limited (NYSE:INFY) Expands By 21.4%

Infosys Limited (NYSE:INFYGet Rating) saw a large increase in short interest in April. As of April 30th, there was short interest totalling 24,200,000 shares, an increase of 21.4% from the April 15th total of 19,930,000 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average daily volume of 11,200,000 shares, the short-interest ratio is presently 2.2 days.

Several equities research analysts recently commented on INFY shares. StockNews.com upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Tuesday, April 26th. Macquarie initiated coverage on Infosys in a research report on Monday, April 11th. They issued an “outperform” rating for the company. Stifel Nicolaus dropped their price objective on Infosys to $23.00 in a research note on Wednesday, April 13th. BMO Capital Markets dropped their price objective on Infosys from $28.00 to $25.00 and set a “market perform” rating on the stock in a research note on Thursday, April 14th. Finally, Bank of America cut Infosys from a “buy” rating to a “neutral” rating and set a $24.50 price objective on the stock. in a research note on Wednesday, February 23rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $26.75.

Institutional investors have recently made changes to their positions in the company. Professional Financial Advisors LLC increased its position in shares of Infosys by 160.1% during the 1st quarter. Professional Financial Advisors LLC now owns 1,056 shares of the technology company’s stock valued at $26,000 after purchasing an additional 650 shares during the last quarter. Prospera Financial Services Inc purchased a new stake in shares of Infosys during the 1st quarter valued at $26,000. JFS Wealth Advisors LLC purchased a new stake in Infosys in the 4th quarter worth about $27,000. Bellevue Group AG purchased a new stake in Infosys in the 4th quarter worth about $29,000. Finally, Spire Wealth Management increased its holdings in Infosys by 304.2% in the 4th quarter. Spire Wealth Management now owns 1,831 shares of the technology company’s stock worth $46,000 after acquiring an additional 1,378 shares during the last quarter. 15.42% of the stock is owned by hedge funds and other institutional investors.

Shares of Infosys stock traded down $0.48 during trading hours on Wednesday, hitting $19.13. 231,095 shares of the company’s stock traded hands, compared to its average volume of 12,797,814. Infosys has a 12-month low of $18.18 and a 12-month high of $26.39. The stock has a market capitalization of $80.18 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 2.51 and a beta of 1.03. The company has a fifty day simple moving average of $22.26 and a 200-day simple moving average of $23.03.

Infosys (NYSE:INFYGet Rating) last announced its earnings results on Wednesday, April 13th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). Infosys had a net margin of 18.17% and a return on equity of 30.72%. The business had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the prior year, the business earned $0.16 earnings per share. Sell-side analysts anticipate that Infosys will post 0.77 earnings per share for the current fiscal year.

About Infosys (Get Rating)

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application development and management, independent validation, product engineering and management, infrastructure management, enterprise application management, and support and integration services.

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