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

Infosys Limited (NYSE:INFY) shares saw unusually-strong trading volume on Thursday . Approximately 3,031,081 shares were traded 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 Ratings Changes

A number of research analysts have recently weighed in on the company. HSBC raised Infosys from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd. Investec downgraded Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Hsbc Global Res raised Infosys from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Finally, BMO Capital Markets increased their price target on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.85.

Infosys Stock Performance

The stock’s 50-day moving average is $22.51 and its 200 day moving average is $22.15. The firm has a market cap of $89.61 billion, a P/E ratio of 27.70, a PEG ratio of 3.71 and a beta of 1.00.

Infosys (NYSE:INFY) last released 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 return on equity of 31.43% and a net margin of 17.15%. During the same quarter in the previous year, the firm posted $0.18 earnings per share. On average, research analysts anticipate that Infosys Limited will post 0.74 EPS for the current year.

Infosys Increases Dividend

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

Hedge Funds Weigh In On Infosys

A number of large investors have recently added to or reduced their stakes in the company. Diversify Wealth Management LLC bought a new position in Infosys during the 4th quarter worth about $787,000. Aaron Wealth Advisors LLC grew its holdings in shares of Infosys by 18.6% in the 4th quarter. Aaron Wealth Advisors LLC now owns 14,932 shares of the technology company’s stock valued at $327,000 after acquiring an additional 2,340 shares in the last quarter. Financial & Tax Architects LLC grew its holdings in shares of Infosys by 10.7% in the 4th quarter. Financial & Tax Architects LLC now owns 28,222 shares of the technology company’s stock valued at $619,000 after acquiring an additional 2,719 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Infosys in the 4th quarter valued at about $52,000. Finally, Ritholtz Wealth Management grew its holdings in shares of Infosys by 14.9% in the 4th quarter. Ritholtz Wealth Management now owns 47,831 shares of the technology company’s stock valued at $1,048,000 after acquiring an additional 6,193 shares in the last quarter. Institutional investors own 16.20% of the company’s stock.

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.