Infosys Limited (INFY) Sees Large Decline in Short Interest
Infosys Limited (NYSE:INFY) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 68,745,647 shares, a decline of 4.9% from the August 31st total of 72,288,873 shares. Based on an average daily trading volume, of 5,396,745 shares, the days-to-cover ratio is presently 12.7 days.
Institutional investors and hedge funds have recently modified their holdings of the business. Kernodle & Katon Asset Management Group LLC acquired a new position in shares of Infosys Limited during the first quarter worth about $100,000. PNC Financial Services Group Inc. lifted its stake in shares of Infosys Limited by 82.0% during the first quarter. PNC Financial Services Group Inc. now owns 7,547 shares of the technology company’s stock worth $120,000 after purchasing an additional 3,400 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Infosys Limited by 198.2% during the second quarter. Tower Research Capital LLC TRC now owns 7,967 shares of the technology company’s stock worth $120,000 after purchasing an additional 5,295 shares in the last quarter. Equity Investment Corp Acquisition Inc acquired a new position in shares of Infosys Limited during the second quarter worth about $151,000. Finally, Personal Capital Advisors Corp acquired a new position in shares of Infosys Limited during the second quarter worth about $166,000. Institutional investors own 19.89% of the company’s stock.
Several equities research analysts recently issued reports on the company. BMO Capital Markets reiterated a “hold” rating and issued a $16.00 price objective on shares of Infosys Limited in a report on Friday, August 18th. UBS AG downgraded Infosys Limited from a “buy” rating to a “hold” rating in a report on Friday, August 18th. BidaskClub downgraded Infosys Limited from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research upgraded Infosys Limited from a “sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a report on Monday, July 17th. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $15.00 price objective on shares of Infosys Limited in a report on Friday, July 14th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. Infosys Limited currently has a consensus rating of “Hold” and an average target price of $15.34.
Shares of Infosys Limited (NYSE:INFY) opened at 14.63 on Friday. Infosys Limited has a one year low of $13.42 and a one year high of $16.71. The firm’s 50-day moving average price is $14.68 and its 200 day moving average price is $15.08. The stock has a market cap of $33.44 billion, a P/E ratio of 15.42 and a beta of 0.74.
Infosys Limited (NYSE:INFY) last issued its quarterly earnings data on Friday, July 14th. The technology company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.01. The company had revenue of $170.78 billion for the quarter, compared to analysts’ expectations of $170.51 billion. Infosys Limited had a return on equity of 21.37% and a net margin of 20.95%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Equities research analysts expect that Infosys Limited will post $0.98 EPS for the current fiscal year.
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About Infosys Limited
Infosys Limited is engaged in consulting, technology, outsourcing and next-generation services. The Company, along with its subsidiaries, provides business information technology services comprising application development and maintenance, independent validation, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking solution, and offerings in the areas of Analytics, Cloud and Digital Transformation.
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