News Business Infosys Put Options Attract Unusual Trading Activity
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New York Stock Exchange

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Infosys Put Options Attract Unusual Trading Activity

Published on March 21, 2024

Infosys Limited (NYSE:INFY) witnessed an extraordinary surge in options trading on Wednesday. Traders snapped up a staggering 10,590 put options on the company, marking a remarkable 465% increase compared to the typical daily volume of 1,874 put options.

Investor Position Changes

Several prominent investors have recently adjusted their holdings in INFY:

  • Teacher Retirement System of Texas initiated a new stake in Infosys during the third quarter, with an investment valued at approximately $5,047,000.
  • Franklin Resources Inc. significantly increased its position in Infosys by 294.2% during the second quarter, now owning 5,570,314 shares worth $89,515,000.
  • Charles Lim Capital Ltd entered the Infosys scene in the second quarter, acquiring a stake valued at around $24,105,000.
  • Rhumbline Advisers expanded its position in Infosys by 3.0% during the third quarter, now holding 908,911 shares valued at $15,551,000.
  • American Century Companies Inc. boosted its Infosys holdings by 33.9% in the third quarter, now possessing 3,687,017 shares valued at $63,085,000.

Stock Performance

As of Thursday, INFY opened at $18.93. The 50-day moving average stands at $19.81, while the 200-day moving average is $18.34. The stock's 52-week range spans from a low of $14.71 to a high of $20.74. With a market capitalization of $78.36 billion, a P/E ratio of 26.66, and a beta of 0.95, Infosys continues to be a significant player in the technology sector.

Recent Earnings Results

In its latest quarterly report released on January 11th, Infosys exceeded analysts' expectations. The company reported earnings per share of $0.18, surpassing the consensus estimate of $0.17. Infosys achieved a net margin of 15.91% and a return on equity of 31.25%. The quarterly revenue reached $4.66 billion, slightly higher than the projected $4.58 billion. Analysts anticipate Infosys to post earnings per share of 0.71 for the current year.

Analyst Ratings

Various research reports have focused on INFY:

  • Wedbush reaffirmed an "outperform" rating with a price target of $22.00.
  • BMO Capital Markets raised their price target from $18.00 to $21.00, maintaining a "market perform" rating.
  • BNP Paribas initiated coverage with an "outperform" rating and a $24.00 price target.

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