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

Principal Financial Group Inc. reduced its position in shares of Infosys Limited (NYSE:INFY) by 91.8% in the 3rd quarter, Holdings Channel reports. The firm 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 reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. increased its stake in shares of Infosys by 68.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock valued at $542,051,000 after purchasing an additional 9,923,744 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Infosys by 37.3% in the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock valued at $401,826,000 after acquiring an additional 5,862,144 shares during the last quarter. Victory Capital Management Inc. raised its stake in Infosys by 6,071.1% during the third quarter. Victory Capital Management Inc. now owns 4,739,830 shares of the technology company’s stock worth $105,556,000 after acquiring an additional 4,663,023 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Infosys by 67.9% in the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock worth $141,532,000 after acquiring an additional 3,074,432 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Infosys by 46.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company’s stock valued at $97,467,000 after purchasing an additional 1,648,650 shares in the last quarter. 16.20% of the stock is currently owned by institutional investors.

Infosys Trading Up 0.0 %

NYSE INFY opened at $22.63 on Friday. The firm has a market capitalization of $93.73 billion, a PE ratio of 29.01, a price-to-earnings-growth ratio of 3.77 and a beta of 1.00. The business’s 50-day moving average price is $22.30 and its two-hundred day moving average price is $21.88. Infosys Limited has a 12 month low of $16.04 and a 12 month high of $23.63.

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

Infosys Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on INFY shares. Hsbc Global Res upgraded shares of Infosys from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. BMO Capital Markets upped their price target on shares of Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a report on Friday. Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, Investec lowered Infosys from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.