Stock Traders Purchase Large Volume of Put Options on Infosys (NYSE:INFY)

Infosys Limited (NYSE:INFY) saw unusually large options trading activity on Monday. Traders acquired 4,508 put options on the company. This represents an increase of 65% compared to the average daily volume of 2,731 put options.

Infosys Price Performance

NYSE:INFY opened at $17.14 on Wednesday. The firm has a market capitalization of $70.93 billion, a P/E ratio of 22.55, a PEG ratio of 2.26 and a beta of 0.95. Infosys has a one year low of $14.98 and a one year high of $20.74. The company’s 50-day simple moving average is $18.05 and its 200 day simple moving average is $18.32.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.49 billion. Infosys had a return on equity of 32.33% and a net margin of 17.06%. During the same quarter in the prior year, the business posted $0.18 EPS. On average, equities research analysts expect that Infosys will post 0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Infosys

Several institutional investors and hedge funds have recently modified their holdings of the stock. Buckingham Capital Management Inc. raised its position in Infosys by 0.6% during the 4th quarter. Buckingham Capital Management Inc. now owns 87,324 shares of the technology company’s stock valued at $1,605,000 after purchasing an additional 499 shares in the last quarter. HB Wealth Management LLC raised its holdings in shares of Infosys by 5.7% in the fourth quarter. HB Wealth Management LLC now owns 10,661 shares of the technology company’s stock valued at $196,000 after acquiring an additional 575 shares in the last quarter. GAMMA Investing LLC lifted its stake in Infosys by 33.0% in the first quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock worth $43,000 after acquiring an additional 593 shares during the period. Marshall Financial Group LLC grew its holdings in Infosys by 1.2% during the 4th quarter. Marshall Financial Group LLC now owns 52,478 shares of the technology company’s stock worth $965,000 after acquiring an additional 622 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC grew its holdings in Infosys by 3.2% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 22,100 shares of the technology company’s stock worth $378,000 after acquiring an additional 680 shares in the last quarter. 10.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

INFY has been the topic of several research analyst reports. BMO Capital Markets reduced their target price on Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a research note on Friday, April 19th. BNP Paribas assumed coverage on shares of Infosys in a research report on Wednesday, January 17th. They set an “outperform” rating and a $24.00 price objective on the stock. Guggenheim began coverage on shares of Infosys in a report on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and set a $22.00 target price on shares of Infosys in a research note on Wednesday, March 13th. Finally, Bank of America raised shares of Infosys from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $19.27.

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 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.