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

Principal Financial Group Inc. decreased its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 24.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 780,907 shares of the technology company's stock after selling 251,960 shares during the period. Principal Financial Group Inc. owned 0.69% of Amdocs worth $66,488,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Pzena Investment Management LLC raised its holdings in shares of Amdocs by 12.3% during the 3rd quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company's stock valued at $556,700,000 after purchasing an additional 696,136 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Amdocs by 123.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 759,136 shares of the technology company's stock worth $66,409,000 after buying an additional 419,045 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Amdocs by 1,207.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 271,701 shares of the technology company's stock worth $23,768,000 after acquiring an additional 250,918 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Amdocs by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,633,733 shares of the technology company's stock valued at $143,498,000 after acquiring an additional 158,843 shares during the last quarter. Finally, Rice Hall James & Associates LLC raised its stake in shares of Amdocs by 338.3% in the 3rd quarter. Rice Hall James & Associates LLC now owns 167,023 shares of the technology company's stock valued at $14,611,000 after acquiring an additional 128,919 shares in the last quarter. Hedge funds and other institutional investors own 92.02% of the company's stock.

Analyst Ratings Changes

DOX has been the subject of a number of recent analyst reports. StockNews.com cut Amdocs from a "strong-buy" rating to a "buy" rating in a research report on Wednesday. Barclays lowered 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. Finally, Oppenheimer boosted their target price on shares of Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $101.20.

Amdocs Stock Performance

NASDAQ DOX traded down $1.40 during midday trading on Friday, hitting $87.91. The company had a trading volume of 726,643 shares, compared to its average volume of 691,938. The firm has a fifty day simple moving average of $86.06 and a two-hundred day simple moving average of $86.56. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. The stock has a market cap of $9.92 billion, a price-to-earnings ratio of 20.40, a P/E/G ratio of 1.47 and a beta of 0.71.

Amdocs (NASDAQ:DOX - Get Free Report) last released its earnings results 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 return on equity of 18.89% and a net margin of 10.19%. Equities analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current fiscal 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 $0.527 dividend. This represents a $2.11 annualized dividend and a yield of 2.40%. The ex-dividend date is Monday, March 31st. This is a positive change from Amdocs's previous quarterly dividend of $0.48. Amdocs's payout ratio is 44.55%.

Amdocs Company Profile

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.