Principal Financial Group Inc. Has $66.49 Million Position in Amdocs Limited (NASDAQ:DOX)

Principal Financial Group Inc. cut its stake in Amdocs Limited (NASDAQ:DOX) by 24.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 780,907 shares of the technology company’s stock after selling 251,960 shares during the period. Principal Financial Group Inc. owned approximately 0.69% of Amdocs worth $66,488,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Nordea Investment Management AB boosted its position in shares of Amdocs by 8.3% during the 4th quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company’s stock worth $141,112,000 after acquiring an additional 127,426 shares in the last quarter. Mirabella Financial Services LLP boosted its holdings in shares of Amdocs by 204.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 14,302 shares of the technology company’s stock valued at $1,250,000 after purchasing an additional 9,600 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Amdocs by 1.9% in the 3rd quarter. Victory Capital Management Inc. now owns 478,137 shares of the technology company’s stock valued at $41,827,000 after purchasing an additional 9,098 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Amdocs by 7.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock worth $154,587,000 after buying an additional 125,654 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in shares of Amdocs by 34.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 145,556 shares of the technology company’s stock worth $12,733,000 after buying an additional 37,516 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on DOX. Oppenheimer increased their target price on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Barclays decreased their target price on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.20.

Amdocs Trading Up 0.1 %

DOX opened at $89.60 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. The company’s 50 day moving average price is $86.04 and its two-hundred day moving average price is $86.54. The firm has a market capitalization of $10.11 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 1.45 and a beta of 0.71.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. As a group, research analysts predict that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.527 per share. This is an increase from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Monday, March 31st. Amdocs’s dividend payout ratio (DPR) is presently 44.55%.

About Amdocs

Amdocs Limited, through its subsidiaries, provides software and services worldwide. It designs, develops, operates, implements, supports, and markets open and modular cloud portfolio. The company provides CES23, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; Amdocs Subscription Marketplace, a software-as-a-service-based platform that includes an expansive network of pre-integrated digital services, such as media, gaming, eLearning, sports, and retail to security and business services; the monetization suite for charging, billing, policy, and revenue management; Intelligent networking suite with a set of modular, flexible, and open service lifecycle management capabilities for network automation journeys; amAIz, a telco GenAI framework; Amdocs Digital Brands Suite, a pre-integrated digital business suite; and Amdocs eSIM Cloud for service providers.