Short Interest in Infosys Limited (NYSE:INFY) Increases By 15.2%

Infosys Limited (NYSE:INFY) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 45,330,000 shares, a growth of 15.2% from the August 15th total of 39,360,000 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average daily trading volume, of 9,360,000 shares, the days-to-cover ratio is presently 4.8 days.

Infosys Price Performance

Shares of INFY traded up $0.03 during mid-day trading on Tuesday, reaching $17.79. The company had a trading volume of 3,141,851 shares, compared to its average volume of 9,489,390. The company’s 50-day moving average is $17.05 and its 200-day moving average is $16.43. The company has a market capitalization of $73.62 billion, a P/E ratio of 24.69, a P/E/G ratio of 2.49 and a beta of 0.97. Infosys has a twelve month low of $14.71 and a twelve month high of $20.57.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, July 20th. The technology company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Infosys had a net margin of 16.41% and a return on equity of 32.39%. The firm had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.55 billion. As a group, equities analysts expect that Infosys will post 0.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on INFY shares. The Goldman Sachs Group started coverage on Infosys in a research note on Tuesday, August 22nd. They issued a “buy” rating on the stock. Nomura upgraded shares of Infosys from a “reduce” rating to a “neutral” rating in a research note on Friday, September 8th. StockNews.com assumed coverage on shares of Infosys in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. started coverage on shares of Infosys in a research report on Tuesday, May 23rd. They set an “underweight” rating and a $14.00 price objective for the company. Finally, Wedbush reissued an “outperform” rating and set a $22.00 target price on shares of Infosys in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $18.00.

Institutional Investors Weigh In On Infosys

Institutional investors and hedge funds have recently modified their holdings of the business. Veritas Asset Management LLP lifted its stake in Infosys by 55.6% in the second quarter. Veritas Asset Management LLP now owns 420,000 shares of the technology company’s stock valued at $6,749,000 after buying an additional 150,000 shares during the period. Wambolt & Associates LLC raised its position in shares of Infosys by 26.6% in the 2nd quarter. Wambolt & Associates LLC now owns 27,854 shares of the technology company’s stock valued at $448,000 after acquiring an additional 5,854 shares during the period. GTS Securities LLC bought a new position in Infosys during the 2nd quarter worth approximately $355,000. West Family Investments Inc. acquired a new position in Infosys during the second quarter valued at approximately $573,000. Finally, Wells Fargo & Company MN grew its holdings in Infosys by 20.4% during the second quarter. Wells Fargo & Company MN now owns 234,878 shares of the technology company’s stock valued at $3,774,000 after purchasing an additional 39,740 shares during the period. 11.39% of the stock is owned by institutional investors.

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 application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.