Principal Financial Group Inc. Acquires 63,718 Shares of Amdocs Limited (NASDAQ:DOX)

Principal Financial Group Inc. raised its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 6.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,032,867 shares of the technology company's stock after purchasing an additional 63,718 shares during the period. Principal Financial Group Inc. owned 0.88% of Amdocs worth $90,355,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in shares of Amdocs by 1.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 5,902 shares of the technology company's stock worth $516,000 after acquiring an additional 109 shares during the period. Private Trust Co. NA increased its stake in shares of Amdocs by 62.9% in the third quarter. Private Trust Co. NA now owns 303 shares of the technology company's stock worth $27,000 after purchasing an additional 117 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Amdocs by 0.4% in the second quarter. Natixis Advisors LLC now owns 27,246 shares of the technology company's stock worth $2,150,000 after purchasing an additional 120 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of Amdocs by 2.3% in the second quarter. Raymond James Trust N.A. now owns 5,796 shares of the technology company's stock valued at $457,000 after purchasing an additional 129 shares during the period. Finally, Morton Community Bank lifted its stake in shares of Amdocs by 0.4% during the 3rd quarter. Morton Community Bank now owns 36,410 shares of the technology company's stock valued at $3,185,000 after buying an additional 130 shares in the last quarter. 92.02% of the stock is owned by institutional investors.

Amdocs Price Performance

Shares of NASDAQ:DOX traded up $0.86 on Friday, hitting $87.01. The company's stock had a trading volume of 1,393,095 shares, compared to its average volume of 684,263. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.24. The company has a market capitalization of $10.23 billion, a PE ratio of 20.52, a PEG ratio of 1.45 and a beta of 0.72. The company has a 50-day simple moving average of $87.93 and a 200 day simple moving average of $84.81.

Amdocs Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.479 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.92 annualized dividend and a yield of 2.20%. Amdocs's payout ratio is presently 45.05%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DOX shares. Stifel Nicolaus assumed coverage on shares of Amdocs in a report on Wednesday, October 2nd. They set a "buy" rating and a $100.00 target price on the stock. Barclays decreased their price objective on Amdocs from $113.00 to $111.00 and set an "overweight" rating on the stock in a research note on Thursday, November 14th. StockNews.com downgraded Amdocs from a "strong-buy" rating to a "buy" rating in a research note on Thursday, November 14th. Finally, Oppenheimer boosted their price objective on shares of Amdocs from $98.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.20.

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.