Investors Purchase High Volume of Put Options on Infosys (INFY)
Shares of Infosys (NASDAQ:INFY) were the target of some unusual options trading activity on Wednesday. Traders bought 3,074 put options on the stock, AmericanBankingNews.com reports. This represents an increase of approximately 266% compared to the typical volume of 840 put options.
Several analysts have recently commented on the stock. Analysts at Jefferies Group downgraded shares of Infosys from a “buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Separately, analysts at Credit Agricole initiated coverage on shares of Infosys in a research note on Thursday, July 10th. They set an “outperform” rating on the stock. Finally, analysts at Stifel Nicolaus initiated coverage on shares of Infosys in a research note on Tuesday, July 8th. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Infosys currently has an average rating of “Buy” and a consensus price target of $65.00.
Shares of Infosys (NASDAQ:INFY) traded up 0.64% during mid-day trading on Wednesday, hitting $58.48. 808,956 shares of the company’s stock traded hands. Infosys has a 1-year low of $44.81 and a 1-year high of $63.20. The stock’s 50-day moving average is $55.74 and its 200-day moving average is $55.1. The company has a market cap of $33.416 billion and a price-to-earnings ratio of 18.33.
Infosys (NASDAQ:INFY) last announced its earnings results on Friday, July 11th. The company reported $0.84 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.76 by $0.08. The company had revenue of $127.70 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts expect that Infosys will post $3.37 EPS for the current fiscal year.
Infosys Limited (NASDAQ:INFY) provides business consulting, technology, engineering and outsourcing services.
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