Stock Traders Buy High Volume of Put Options on Infosys Technologies Ltd (INFY)
Infosys Technologies Ltd (NASDAQ:INFY) saw unusually large options trading on Thursday. Stock investors bought 5,004 put options on the company, Analyst Ratings.Net reports. This represents an increase of 480% compared to the typical volume of 863 put options.
INFY has been the subject of a number of recent research reports. Analysts at BNP Paribas upgraded shares of Infosys Technologies Ltd from a “hold” rating to a “buy” rating in a research note to investors on Monday. Separately, analysts at Robert W. Baird upgraded shares of Infosys Technologies Ltd from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, September 25th. They now have a $58.00 price target on the stock, up previously from $46.00. They noted that the move was a valuation call. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Infosys Technologies Ltd in a research note to investors on Tuesday, September 3rd. They now have a $49.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. Infosys Technologies Ltd has a consensus rating of “Buy” and an average target price of $50.60.
Shares of Infosys Technologies Ltd (NASDAQ:INFY) traded up 1.21% during mid-day trading on Thursday, hitting $50.28. 2,999,520 shares of the company’s stock traded hands. Infosys Technologies Ltd has a one year low of $38.91 and a one year high of $55.71. The stock has a 50-day moving average of $47.93 and a 200-day moving average of $45.8. The company has a market cap of $28.730 billion and a price-to-earnings ratio of 16.45.
Infosys Technologies Ltd (NASDAQ:INFY) last released its earnings data on Friday, July 12th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 23.5% on a year-over-year basis. On average, analysts predict that Infosys Technologies Ltd will post $2.94 earnings per share for the current fiscal year.
Infosys Limited (NASDAQ:INFY), formerly Infosys Technologies Limited, provides business consulting, technology, engineering and outsourcing services.
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