Infosys (NYSE:INFY) Sees Unusually-High Trading Volume – Here’s What Happened

Infosys Limited (NYSE:INFY) saw an uptick in trading volume on Thursday . 3,031,081 shares traded hands during trading, a decline of 57% from the previous session’s volume of 7,006,041 shares.The stock last traded at $21.90 and had previously closed at $22.89.

Analyst Upgrades and Downgrades

INFY has been the subject of a number of analyst reports. Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. HSBC raised Infosys from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. BMO Capital Markets raised their price target on shares of Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Hsbc Global Res upgraded shares of Infosys from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Finally, Guggenheim restated a “neutral” rating on shares of Infosys in a report on Friday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Infosys presently has an average rating of “Hold” and an average price target of $20.22.

Infosys Stock Down 1.9 %

The company has a 50-day moving average price of $22.54 and a 200-day moving average price of $22.15. The company has a market capitalization of $87.65 billion, a price-to-earnings ratio of 27.13, a P/E/G ratio of 3.71 and a beta of 1.00.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, January 16th. The technology company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. Infosys had a net margin of 17.15% and a return on equity of 31.43%. During the same quarter last year, the company earned $0.18 EPS. Equities analysts expect that Infosys Limited will post 0.74 EPS for the current fiscal year.

Infosys Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were given a dividend of $0.2126 per share. The ex-dividend date was Tuesday, October 29th. This is an increase from Infosys’s previous semi-annual dividend of $0.20. This represents a yield of 1.1%. Infosys’s dividend payout ratio (DPR) is 53.85%.

Institutional Trading of Infosys

Several institutional investors have recently modified their holdings of the company. Robeco Institutional Asset Management B.V. boosted its stake in Infosys by 68.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock worth $542,051,000 after buying an additional 9,923,744 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Infosys by 37.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock worth $401,826,000 after acquiring an additional 5,862,144 shares during the period. Victory Capital Management Inc. boosted its position in shares of Infosys by 6,071.1% during the 3rd quarter. Victory Capital Management Inc. now owns 4,739,830 shares of the technology company’s stock valued at $105,556,000 after acquiring an additional 4,663,023 shares in the last quarter. Millennium Management LLC increased its stake in Infosys by 67.9% in the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock valued at $141,532,000 after acquiring an additional 3,074,432 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in Infosys in the third quarter valued at about $36,039,000. Institutional investors and hedge funds own 16.20% of the company’s stock.

Infosys Company Profile

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.