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

Infosys Limited (NYSE:INFY - Get Free Report) was the recipient of unusually large options trading on Thursday. Traders acquired 9,820 put options on the stock. This represents an increase of 270% compared to the typical volume of 2,652 put options.

Infosys Stock Performance

Infosys stock traded down $0.43 on Thursday, reaching $16.52. The company's stock had a trading volume of 31,702,883 shares, compared to its average volume of 9,473,304. The company has a market cap of $68.36 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 2.25 and a beta of 0.93. The business's fifty day moving average price is $18.94 and its 200 day moving average price is $18.35. Infosys has a twelve month low of $14.71 and a twelve month high of $20.74.

Wall Street Analysts Forecast Growth

INFY has been the subject of several analyst reports. BMO Capital Markets boosted their target price on Infosys from $18.00 to $21.00 and gave the stock a "market perform" rating in a report on Friday, January 12th. JPMorgan Chase & Co. upgraded Infosys from a "neutral" rating to an "overweight" rating in a report on Wednesday, January 3rd. StockNews.com lowered Infosys from a "buy" rating to a "hold" rating in a report on Tuesday, March 19th. UBS Group upgraded Infosys from a "neutral" rating to a "buy" rating in a report on Wednesday, January 3rd. Finally, Guggenheim assumed coverage on Infosys in a research report on Tuesday, March 19th. They set a "neutral" rating and a $20.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $20.76.

Hedge Funds Weigh In On Infosys

A number of institutional investors and hedge funds have recently bought and sold shares of INFY. FWL Investment Management LLC acquired a new position in Infosys in the fourth quarter worth $27,000. GAMMA Investing LLC acquired a new position in shares of Infosys during the fourth quarter valued at $36,000. JFS Wealth Advisors LLC lifted its stake in shares of Infosys by 88.3% during the third quarter. JFS Wealth Advisors LLC now owns 2,945 shares of the technology company's stock valued at $50,000 after acquiring an additional 1,381 shares during the period. Planned Solutions Inc. acquired a new position in shares of Infosys during the fourth quarter valued at $50,000. Finally, Jones Financial Companies Lllp acquired a new position in shares of Infosys during the fourth quarter valued at $56,000. Institutional investors and hedge funds own 10.89% of the company's stock.

About Infosys

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.