Infosys Limited (NYSE:INFY) Short Interest Down 10.5% in August

Infosys Limited (NYSE:INFY) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 81,180,000 shares, a decrease of 10.5% from the August 15th total of 90,700,000 shares. Based on an average daily trading volume, of 9,520,000 shares, the short-interest ratio is currently 8.5 days. Currently, 2.0% of the shares of the company are short sold.

Analyst Ratings Changes

A number of brokerages have commented on INFY. StockNews.com raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Erste Group Bank raised 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 report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.27.

Infosys Stock Performance

Shares of NYSE INFY traded down $0.49 during midday trading on Wednesday, reaching $22.48. The stock had a trading volume of 7,050,970 shares, compared to its average volume of 9,372,020. The stock has a 50-day moving average of $22.06 and a 200-day moving average of $19.34. The company has a market capitalization 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. Infosys has a 12-month low of $16.04 and a 12-month high of $23.48.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. Infosys had a net margin of 17.18% and a return on equity of 32.01%. The firm had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the prior year, the company posted $0.17 earnings per share. As a group, analysts forecast that Infosys will post 0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Infosys

A number of hedge funds and other institutional investors have recently modified their holdings of INFY. Mercer Global Advisors Inc. ADV lifted its position in Infosys by 2.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 17,632 shares of the technology company’s stock valued at $328,000 after purchasing an additional 505 shares during the last quarter. GAMMA Investing LLC lifted its position in Infosys by 22.6% during the second quarter. GAMMA Investing LLC now owns 2,931 shares of the technology company’s stock valued at $55,000 after purchasing an additional 541 shares during the last quarter. D Orazio & Associates Inc. lifted its position in Infosys by 4.1% during the second quarter. D Orazio & Associates Inc. now owns 14,724 shares of the technology company’s stock valued at $274,000 after purchasing an additional 584 shares during the last quarter. Somerset Trust Co lifted its position in Infosys by 4.2% during the second quarter. Somerset Trust Co now owns 15,140 shares of the technology company’s stock valued at $282,000 after purchasing an additional 611 shares during the last quarter. Finally, Seed Wealth Management Inc. lifted its position in Infosys by 5.6% during the second quarter. Seed Wealth Management Inc. now owns 18,260 shares of the technology company’s stock valued at $340,000 after purchasing an additional 970 shares during the last quarter. Institutional investors 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.