Principal Financial Group Inc. Boosts Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Principal Financial Group Inc. increased its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 6.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,032,867 shares of the technology company's stock after acquiring an additional 63,718 shares during the quarter. Principal Financial Group Inc. owned about 0.88% of Amdocs worth $90,355,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Two Point Capital Management Inc. grew its holdings in Amdocs by 1.0% in the 3rd quarter. Two Point Capital Management Inc. now owns 33,749 shares of the technology company's stock valued at $2,952,000 after buying an additional 318 shares in the last quarter. Foster & Motley Inc. grew its holdings in shares of Amdocs by 12.3% in the third quarter. Foster & Motley Inc. now owns 30,071 shares of the technology company's stock valued at $2,631,000 after purchasing an additional 3,295 shares during the period. Marks Group Wealth Management Inc increased its position in Amdocs by 1.7% during the third quarter. Marks Group Wealth Management Inc now owns 94,201 shares of the technology company's stock worth $8,241,000 after purchasing an additional 1,619 shares during the last quarter. Hixon Zuercher LLC purchased a new position in Amdocs during the third quarter worth about $3,287,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Amdocs in the 3rd quarter valued at about $55,000. Hedge funds and other institutional investors own 92.02% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DOX shares. StockNews.com upgraded shares of Amdocs from a "buy" rating to a "strong-buy" rating in a report on Friday, October 25th. Stifel Nicolaus began coverage on Amdocs in a research note on Wednesday, October 2nd. They set a "buy" rating and a $100.00 target price for the company. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $102.00.

Amdocs Trading Up 0.0 %

Shares of DOX stock traded up $0.03 during trading hours on Friday, hitting $92.17. The company had a trading volume of 492,889 shares, compared to its average volume of 474,845. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $10.83 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 1.47 and a beta of 0.74. The company's fifty day moving average is $87.92 and its 200 day moving average is $83.83. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.04.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.02. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The company had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same period in the prior year, the firm earned $1.41 earnings per share. The firm's revenue was up 1.1% compared to the same quarter last year. Research analysts expect that Amdocs Limited will post 5.67 earnings per share for the current fiscal year.

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.