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

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

Infosys Stock Up 0.3 %

Shares of INFY opened at $16.98 on Tuesday. Infosys has a 12-month low of $14.98 and a 12-month high of $20.74. The business’s fifty day moving average is $18.10 and its 200 day moving average is $18.32. The stock has a market cap of $70.28 billion, a P/E ratio of 22.34, a P/E/G ratio of 2.26 and a beta of 0.95.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, beating 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 analysts’ expectations of $4.49 billion. During the same period last year, the business earned $0.18 EPS. On average, analysts expect that Infosys will post 0.75 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Wedbush reiterated an “outperform” rating and issued a $22.00 target price on shares of Infosys in a research note on Wednesday, March 13th. Susquehanna lowered their price target on Infosys from $15.00 to $14.00 and set a “negative” rating on the stock in a research report on Friday, April 19th. BNP Paribas began coverage on shares of Infosys in a research report on Wednesday, January 17th. They set an “outperform” rating and a $24.00 price objective for the company. Finally, Bank of America upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Infosys has an average rating of “Hold” and an average target price of $19.27.

Institutional Investors Weigh In On Infosys

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Infosys by 2.3% in the third quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock worth $139,327,000 after purchasing an additional 180,888 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Infosys in the third quarter valued at about $5,047,000. Baillie Gifford & Co. lifted its holdings in Infosys by 3.3% in the fourth quarter. Baillie Gifford & Co. now owns 3,190,513 shares of the technology company’s stock valued at $58,642,000 after acquiring an additional 102,273 shares during the period. Rhumbline Advisers increased its position in Infosys by 3.0% in the third quarter. Rhumbline Advisers now owns 908,911 shares of the technology company’s stock worth $15,551,000 after buying an additional 26,833 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Infosys by 39.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,744,741 shares of the technology company’s stock worth $32,068,000 after buying an additional 491,350 shares in the last quarter. 10.89% of the stock is currently 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 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.