Infosys Limited (NYSE:INFY) Short Interest Up 14.1% in March

Infosys Limited (NYSE:INFY) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 48,280,000 shares, a growth of 14.1% from the March 15th total of 42,320,000 shares. Based on an average trading volume of 8,720,000 shares, the short-interest ratio is currently 5.5 days. Currently, 1.2% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INFY. Bank of America upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. UBS Group raised shares of Infosys from a “neutral” rating to a “buy” rating in a report on Wednesday, January 3rd. BMO Capital Markets upped their target price on shares of Infosys from $18.00 to $21.00 and gave the stock a “market perform” rating in a report on Friday, January 12th. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. raised shares of Infosys from a “neutral” rating to an “overweight” rating in a report on Wednesday, January 3rd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.76.

Infosys Price Performance

Shares of INFY traded down $0.22 during mid-day trading on Tuesday, reaching $17.05. The stock had a trading volume of 12,876,756 shares, compared to its average volume of 9,067,433. Infosys has a 52-week low of $14.71 and a 52-week high of $20.74. The business’s fifty day moving average is $19.01 and its 200 day moving average is $18.36. The firm has a market cap of $70.57 billion, a price-to-earnings ratio of 24.01, a P/E/G ratio of 2.34 and a beta of 0.93.

Institutional Investors Weigh In On Infosys

A number of hedge funds have recently modified their holdings of INFY. Canada Pension Plan Investment Board purchased a new stake in shares of Infosys in the third quarter valued at about $158,356,000. State Street Corp grew its holdings in shares of Infosys by 34.6% in the first quarter. State Street Corp now owns 19,989,499 shares of the technology company’s stock valued at $497,539,000 after purchasing an additional 5,143,124 shares during the period. Aikya Investment Management Ltd acquired a new position in Infosys in the fourth quarter valued at about $71,409,000. FMR LLC lifted its position in Infosys by 15.2% in the third 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 last quarter. Finally, 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. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Infosys Company Profile

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.