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

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on INFY. BMO Capital Markets decreased their price target on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a research note on Friday, April 19th. Susquehanna decreased their target price on Infosys from $15.00 to $14.00 and set a “negative” rating on the stock in a research report on Friday, April 19th. Wedbush reiterated an “outperform” rating and set a $22.00 price target on shares of Infosys in a research report on Wednesday, March 13th. Guggenheim assumed coverage on Infosys in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 price objective for the company. Finally, StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Infosys currently has a consensus rating of “Hold” and a consensus price target of $19.27.

Hedge Funds Weigh In On Infosys

A number of institutional investors have recently bought and sold shares of INFY. Canada Pension Plan Investment Board acquired a new stake in Infosys during the third quarter worth $158,356,000. Aikya Investment Management Ltd acquired a new stake in shares of Infosys during the 4th quarter worth about $71,409,000. FMR LLC raised its holdings in Infosys by 15.2% in the 3rd quarter. FMR LLC now owns 24,819,637 shares of the technology company’s stock valued at $424,664,000 after buying an additional 3,275,485 shares during the period. Value Partners Investments Inc. lifted its position in Infosys by 857.8% in the third quarter. Value Partners Investments Inc. now owns 2,701,000 shares of the technology company’s stock valued at $46,214,000 after buying an additional 2,419,000 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Infosys by 539.8% during the fourth quarter. Wellington Management Group LLP now owns 2,010,636 shares of the technology company’s stock worth $36,955,000 after buying an additional 1,696,378 shares during the period. 10.89% of the stock is owned by hedge funds and other institutional investors.

Infosys Stock Performance

Shares of Infosys stock opened at $17.14 on Wednesday. The business’s 50 day moving average price is $18.05 and its 200 day moving average price is $18.32. The company has a market cap of $70.93 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 2.26 and a beta of 0.95. Infosys has a one year low of $14.98 and a one year high of $20.74.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. Infosys had a return on equity of 32.33% and a net margin of 17.06%. The business had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the previous year, the firm earned $0.18 EPS. On average, analysts predict that Infosys will post 0.75 EPS for the current fiscal year.

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.