Principal Financial Group Inc. Has $883,000 Stock Position in Infosys Limited (NYSE:INFY)

Principal Financial Group Inc. lowered its stake in shares of Infosys Limited (NYSE:INFY) by 91.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,668 shares of the technology company’s stock after selling 443,601 shares during the period. Principal Financial Group Inc.’s holdings in Infosys were worth $883,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in INFY. Mizuho Securities Co. Ltd. acquired a new stake in Infosys in the third quarter valued at $33,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Infosys in the 3rd quarter valued at about $57,000. Whittier Trust Co. of Nevada Inc. lifted its stake in Infosys by 25.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,795 shares of the technology company’s stock valued at $85,000 after purchasing an additional 766 shares during the last quarter. GAMMA Investing LLC grew its holdings in Infosys by 34.3% during the third quarter. GAMMA Investing LLC now owns 3,936 shares of the technology company’s stock worth $88,000 after purchasing an additional 1,005 shares during the period. Finally, Advisor Resource Council acquired a new position in Infosys during the third quarter worth approximately $202,000. Institutional investors and hedge funds own 16.20% of the company’s stock.

Infosys Stock Up 0.0 %

NYSE INFY opened at $22.63 on Friday. The firm has a 50-day moving average price of $22.30 and a two-hundred day moving average price of $21.88. Infosys Limited has a 12-month low of $16.04 and a 12-month high of $23.63. The company has a market capitalization of $93.73 billion, a P/E ratio of 29.01, a P/E/G ratio of 3.77 and a beta of 1.00.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the previous year, the company posted $0.18 earnings per share. Equities analysts expect that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on INFY. HSBC raised Infosys from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. BMO Capital Markets increased their price objective on shares of Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.85.

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.