Principal Financial Group Inc. Has $42.20 Million Stock Holdings in Amdocs Limited $DOX

Principal Financial Group Inc. trimmed its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 6.8% in the first quarter, Holdings Channel.com reports. The firm owned 646,569 shares of the technology company’s stock after selling 47,075 shares during the quarter. Principal Financial Group Inc.’s holdings in Amdocs were worth $42,197,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. WealthCollab LLC lifted its stake in Amdocs by 94.5% in the third quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock valued at $29,000 after buying an additional 173 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new position in shares of Amdocs in the fourth quarter valued at approximately $37,000. Los Angeles Capital Management LLC bought a new stake in shares of Amdocs during the fourth quarter worth $39,000. Advisory Services Network LLC bought a new stake in shares of Amdocs during the third quarter worth $42,000. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Amdocs by 190.2% during the third quarter. CIBC Private Wealth Group LLC now owns 595 shares of the technology company’s stock worth $49,000 after acquiring an additional 390 shares during the period. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Stock Down 0.5%

Amdocs stock opened at $52.63 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. Amdocs Limited has a 1-year low of $49.79 and a 1-year high of $90.29. The company has a fifty day simple moving average of $56.61 and a 200 day simple moving average of $66.21. The company has a market cap of $5.68 billion, a P/E ratio of 10.53, a price-to-earnings-growth ratio of 0.91 and a beta of 0.41.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Thursday, May 14th. The technology company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.77 by $0.01. Amdocs had a net margin of 11.81% and a return on equity of 19.77%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the firm posted $1.78 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. Research analysts anticipate that Amdocs Limited will post 6.56 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a dividend of $0.569 per share. This represents a $2.28 annualized dividend and a yield of 4.3%. The ex-dividend date is Tuesday, June 30th. Amdocs’s dividend payout ratio is presently 45.60%.

Wall Street Analyst Weigh In

DOX has been the topic of several research reports. KeyCorp initiated coverage on shares of Amdocs in a research report on Monday, June 29th. They issued a “sector weight” rating on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Amdocs in a research note on Friday, May 8th. Stifel Nicolaus cut their price target on Amdocs from $88.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Wall Street Zen downgraded Amdocs from a “buy” rating to a “hold” rating in a report on Sunday, July 5th. Finally, Cfra cut Amdocs to a “sell” rating in a research note on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $86.67.

Amdocs Company Profile

Amdocs (NASDAQ: DOX) is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs’ product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra’anana, Israel.