Infosys Ltd. (NYSE:INFY – Get Free Report) saw some unusual options trading on Tuesday. Traders purchased 16,497 put options on the stock. This is an increase of approximately 51% compared to the typical volume of 10,912 put options.
Institutional Investors Weigh In On Infosys
A number of large investors have recently added to or reduced their stakes in the company. Ariadne Wealth Management LP purchased a new stake in Infosys during the first quarter valued at about $257,000. Bank of America Corp DE increased its holdings in shares of Infosys by 7.4% in the first quarter. Bank of America Corp DE now owns 6,790,666 shares of the technology company’s stock worth $91,742,000 after buying an additional 469,843 shares during the period. Arkadios Wealth Advisors increased its holdings in shares of Infosys by 117.4% in the first quarter. Arkadios Wealth Advisors now owns 39,633 shares of the technology company’s stock worth $535,000 after buying an additional 21,404 shares during the period. Royal Bank of Canada increased its holdings in shares of Infosys by 31.9% in the first quarter. Royal Bank of Canada now owns 1,156,539 shares of the technology company’s stock worth $15,625,000 after buying an additional 279,954 shares during the period. Finally, SummitTX Capital L.P. increased its holdings in shares of Infosys by 282.1% in the first quarter. SummitTX Capital L.P. now owns 92,476 shares of the technology company’s stock worth $1,249,000 after buying an additional 68,276 shares during the period. Hedge funds and other institutional investors own 16.20% of the company’s stock.
Infosys Price Performance
NYSE INFY traded up $0.17 during trading hours on Tuesday, reaching $12.76. 16,230,521 shares of the stock traded hands, compared to its average volume of 16,661,510. The stock has a 50 day simple moving average of $13.24 and a two-hundred day simple moving average of $15.75. Infosys has a 1 year low of $11.56 and a 1 year high of $30.00. The company has a market cap of $51.62 billion, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 1.56 and a beta of 0.89.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the company. Jefferies Financial Group lowered Infosys from a “buy” rating to a “hold” rating and set a $14.31 price objective for the company. in a research note on Monday, February 23rd. Susquehanna dropped their price objective on Infosys from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Stifel Nicolaus set a $15.00 price objective on Infosys in a research note on Thursday, April 23rd. TD Cowen dropped their price objective on Infosys from $16.00 to $15.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Finally, BMO Capital Markets dropped their price objective on Infosys from $20.00 to $15.00 and set a “market perform” rating for the company in a research note on Friday, April 24th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $14.22.
View Our Latest Analysis on Infosys
About Infosys
Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.
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