Investors Buy Large Volume of Infosys Put Options (NYSE:INFY)

Infosys Limited (NYSE:INFY) was the recipient of unusually large options trading on Monday. Stock traders purchased 4,508 put options on the company. This represents an increase of approximately 65% compared to the typical volume of 2,731 put options.

Infosys Price Performance

Infosys stock opened at $16.98 on Tuesday. The business has a 50 day moving average of $18.10 and a 200-day moving average of $18.32. Infosys has a 1 year low of $14.98 and a 1 year high of $20.74. The company has a market capitalization of $70.28 billion, a P/E ratio of 22.34, a P/E/G ratio of 2.26 and a beta of 0.95.

Infosys (NYSE:INFY) last released its earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.49 billion. Infosys had a net margin of 17.06% and a return on equity of 32.33%. During the same quarter in the prior year, the firm posted $0.18 EPS. Equities analysts anticipate that Infosys will post 0.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Susquehanna decreased their price objective on shares of Infosys from $15.00 to $14.00 and set a “negative” rating on the stock in a report on Friday, April 19th. BMO Capital Markets cut their price objective on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a research report on Friday, April 19th. Wedbush reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Infosys in a research report on Wednesday, March 13th. HSBC reissued a “hold” rating and set a $20.10 target price on shares of Infosys in a research note on Friday, April 19th. Finally, BNP Paribas initiated coverage on Infosys in a research note on Wednesday, January 17th. They set an “outperform” rating and a $24.00 target price for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Infosys has an average rating of “Hold” and an average price target of $19.27.

Institutional Trading of Infosys

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP lifted its holdings in shares of Infosys by 21.3% in the 1st quarter. Quantbot Technologies LP now owns 153,647 shares of the technology company’s stock worth $2,755,000 after purchasing an additional 27,007 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in Infosys during the 1st quarter valued at $212,000. Coronation Fund Managers Ltd. lifted its stake in Infosys by 22.6% during the 1st quarter. Coronation Fund Managers Ltd. now owns 1,389,341 shares of the technology company’s stock valued at $24,911,000 after acquiring an additional 256,405 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Infosys during the 1st quarter valued at $677,000. Finally, Whittier Trust Co. lifted its stake in Infosys by 28.0% during the 1st quarter. Whittier Trust Co. now owns 18,777 shares of the technology company’s stock valued at $337,000 after acquiring an additional 4,110 shares in the last quarter. Institutional investors and hedge funds own 10.89% of the company’s stock.

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.