Principal Financial Group Inc. Has $90.36 Million Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Principal Financial Group Inc. lifted its stake in shares of Amdocs Limited (NASDAQ:DOX) by 6.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,032,867 shares of the technology company’s stock after purchasing an additional 63,718 shares during the quarter. Principal Financial Group Inc. owned 0.88% of Amdocs worth $90,355,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Franklin Resources Inc. lifted its position in Amdocs by 71.6% during the third quarter. Franklin Resources Inc. now owns 152,230 shares of the technology company’s stock worth $13,580,000 after purchasing an additional 63,527 shares during the period. Tidal Investments LLC raised its position in shares of Amdocs by 2.6% in the 3rd quarter. Tidal Investments LLC now owns 113,671 shares of the technology company’s stock valued at $9,944,000 after buying an additional 2,885 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Amdocs during the 3rd quarter worth approximately $130,000. Rehmann Capital Advisory Group boosted its position in shares of Amdocs by 7.7% during the 3rd quarter. Rehmann Capital Advisory Group now owns 15,949 shares of the technology company’s stock worth $1,411,000 after acquiring an additional 1,136 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its position in shares of Amdocs by 5.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 25,085 shares of the technology company’s stock worth $2,195,000 after acquiring an additional 1,306 shares in the last quarter. Institutional investors own 92.02% of the company’s stock.

Amdocs Price Performance

Shares of DOX opened at $87.01 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. The stock has a market cap of $10.23 billion, a PE ratio of 20.52, a PEG ratio of 1.45 and a beta of 0.72. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $94.04. The business has a 50-day simple moving average of $87.93 and a two-hundred day simple moving average of $84.75.

Amdocs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.479 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a yield of 2.20%. Amdocs’s dividend payout ratio (DPR) is presently 45.05%.

Analyst Ratings Changes

Several research firms have weighed in on DOX. Stifel Nicolaus initiated 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. StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Barclays decreased their target price on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Finally, 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. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $101.20.

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.