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

Principal Financial Group Inc. lowered its holdings in Infosys Limited (NYSE:INFY - Free Report) by 91.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,668 shares of the technology company's stock after selling 443,601 shares during the quarter. Principal Financial Group Inc.'s holdings in Infosys were worth $883,000 as of its most recent filing with the SEC.

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

Infosys Stock Performance

INFY traded up $0.01 on Friday, reaching $22.63. The company had a trading volume of 3,810,692 shares, compared to its average volume of 5,183,446. Infosys Limited has a fifty-two week low of $16.04 and a fifty-two week high of $23.63. The stock has a market cap 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. The company's fifty day moving average is $22.30 and its 200 day moving average is $21.91.

Infosys (NYSE:INFY - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, hitting 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 last year, the firm posted $0.18 EPS. On average, sell-side analysts expect that Infosys Limited will post 0.75 EPS for the current year.

Infosys Increases Dividend

The firm also recently declared 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. This represents a yield of 1.1%. This is a positive change from Infosys's previous semi-annual dividend of $0.20. The ex-dividend date was Tuesday, October 29th. Infosys's dividend payout ratio (DPR) is currently 53.85%.

Wall Street Analysts Forecast Growth

INFY has been the topic of several research reports. Investec cut Infosys from a "hold" rating to a "sell" rating in a research note on Thursday, October 3rd. HSBC upgraded shares of Infosys from a "hold" rating to a "buy" rating in a report on Monday, December 9th. 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 report on Friday, October 18th. Hsbc Global Res upgraded shares of Infosys from a "hold" rating to a "strong-buy" rating in a report on Monday, December 9th. Finally, StockNews.com lowered shares of Infosys from a "buy" rating to a "hold" rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Infosys presently has a consensus rating of "Hold" and an average target price of $20.85.

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.